This Quarter’s Topics

Delays

Contributions

Child Tax Credit

PIN’s

Extensions

Thank you for your support this past year!  For those of you who made contributions – we could not do it without you! And for those of you who pray for us – thank you so very much!

Delays

YOU HAVEN’T GOTTEN YOUR REFUND?
There is a backlog of unprocessed tax returns.  Millions of tax returns are waiting to be processed.  The IRS is asking that you not call to check on your tax return and also that you DO NOT refile your return.  We are receiving dozens of calls each week from those of you still waiting for returns to be processed.  The IRS has not given any dates at which they expect to be “caught up” nor is there any method for checking on returns in their queue.  Until your return is processed the “Where’s My Refund” website will not have any information.

Contributions

On our 2021 questionnaire be sure to fill in your charitable contributions even if you do not itemize.  Beginning next year there will be a $600 adjustment to income for those filing jointly with charitable contributions of at least that amount ($300 single). 

Child Tax Credit

In 2021 the child tax credit will increase to $3,000 for every child under the age of 18 ($3,600 under 6).  Half of the credit is being sent monthly from July to December.  Any advance amount received will need to be reported on the 2021 tax return.  There will be a place to fill this amount in on our 2021 questionnaire.  You may choose to opt out of advance payments if you’d rather have one large credit on your 2021 tax return.  You have the option to opt out using the IRS internet portal. 

PIN’s

If you have a PIN number issued by the IRS you must fill that in yourself on your tax return.  Do not share your PIN with anyone – not even us!

Extensions

Those who filed a request for an extension of time to file have until October 15^th to file their returns.  If we are preparing returns for you please remember that we have reduced staff outside of tax season and it will take longer for you to get your completed return from us.  We regularly find that returns can take up to six weeks to reach you by first class U.S. mail so you may wish to enclose a pre-paid priority mail envelope for us to use in returning your information to you.

Sincerely in Christ,

James W. Rickard

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