Filing 2021 Taxes

Filing season officially starts January 24th and runs until April 18th, 2022. If you know you won’t be able to file on time, make sure you file the extension. Keep in mind it’s a filing extension not an extension to pay.

Since the increases to the standard deduction a lot of taxpayers are finding they no longer must itemize their returns. If you give to charity and you don’t itemize you could qualify to deduct up to $600 in charitable contributions.

For those who have taken the advance child tax credits keep an eye out for the IRS Letter 6419. This will outline how much you received in 2021 for the advance child tax credits.

The Recovery rebate credits are still available for those who have not filed their 2020 returns to claim the 1st and 2nd rounds of stimulus credits. For 2021 taxes if you did not receive the 3rd payment you may be able to claim the credit this year when you file. Remember there are income limitations on who can receive the stimulus money.

If you need help filing, please reach out to us. WE have very affordable pricing for all taxpayers.

Call / Text 904-274-9503

Email: info@pegasustaxpros.com