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News From Flatiron Advisors

We hope you find these updates and informational blog posts useful for tax and business planning purposes.

Excerpts:

New Payments Start in July for Advance Child Tax Credit Payments

Beginning in July, some taxpayers may begin receiving payments of up to $300 per month as advance payments of an increased child tax credit. Here is an outline of the changes. As usual, there are many more details behind the law, and clarifications are issued on a regular basis. What Is it? The American Rescue […]
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The IRS Updates Taxpayers on the Backlog and Refund Delays

On July 1, 2021 Erin Collins, the Taxpayer Advocate, released her annual IRS report and provided another glimpse into the reasons for IRS refund delays. If you are still awaiting a refund, or any other resolution to a notice or correspondence, all we can do is wait. The IRS has a current backlog of 35 […]
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