Tax Year 2021 Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/category/tax-year-2021/ Tax Preparers and Tax Consulting Thu, 27 Jan 2022 16:16:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://i0.wp.com/newsite.lincolntax.com/wp-content/uploads/2025/01/Web-Favicon.png?fit=32%2C32&ssl=1 Tax Year 2021 Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/category/tax-year-2021/ 32 32 241685655 IRS Expects Complications This Season https://newsite.lincolntax.com/2022/01/27/irs-expects-complications-this-season/ Thu, 27 Jan 2022 15:36:21 +0000 https://newsite.lincolntax.com/?p=743 The IRS officially opened up the 2021 tax filing season on January 24, 2022 but has already made statements to congress, and the public, that they expect this season to be just as complicated and aggravating as the last two years.  Just what we all wanted to hear, right? The biggest source of frustrations for

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]]> 743 Power of Attorneys https://newsite.lincolntax.com/2022/01/27/power-of-attorneys/ https://newsite.lincolntax.com/2022/01/27/power-of-attorneys/#respond Thu, 27 Jan 2022 15:25:44 +0000 https://newsite.lincolntax.com/?p=739 Matt and Ryan made the decision last summer that we’d like to have all clients provide us with a signed Power of Attorney Form 2848.  We saw the writing on the wall and knew this upcoming tax season was going to provide a whole host of challenges and to make life easier on our clients and

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]]> https://newsite.lincolntax.com/2022/01/27/power-of-attorneys/feed/ 0 739 IRS to Implement New ID Account System https://newsite.lincolntax.com/2022/01/27/irs-to-implement-new-id-account-system/ https://newsite.lincolntax.com/2022/01/27/irs-to-implement-new-id-account-system/#respond Thu, 27 Jan 2022 15:14:07 +0000 https://newsite.lincolntax.com/?p=736 Starting in the summer of 2022, the IRS will require all taxpayers who use the IRS website for things like access to the Child Tax Credit Update Portal, getting their tax transcript, or viewing their payment history to create an account with the third party identity verification company ID.me. The days of just using a

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]]> https://newsite.lincolntax.com/2022/01/27/irs-to-implement-new-id-account-system/feed/ 0 736 Power of Attorney Form 2848 For All Clients https://newsite.lincolntax.com/2021/08/18/power-of-attorney-form-2848-for-all-clients/ https://newsite.lincolntax.com/2021/08/18/power-of-attorney-form-2848-for-all-clients/#respond Wed, 18 Aug 2021 05:26:00 +0000 https://newsite.lincolntax.com/?p=46 As we're sure you're aware, the past year and a half living under a global pandemic has been unbelievably challenging for everyone. It has been exceptionally difficult for us as preparers navigating complex new tax laws and provisions, incorporated in the middle of tax season no less. One of the biggest challenges we've had during this time is dealing with an already under-funded, technologically deprived, and short-staffed IRS.

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]]> https://newsite.lincolntax.com/2021/08/18/power-of-attorney-form-2848-for-all-clients/feed/ 0 46 Advance Payment of the Child Tax Credit https://newsite.lincolntax.com/2021/06/24/advance-payment-of-the-child-tax-credit/ Thu, 24 Jun 2021 16:37:00 +0000 https://newsite.lincolntax.com/?p=44 As part of the American Rescue Plan Act that was signed into law in March, the IRS is required to assist taxpayers with children by making periodic, and non-taxable, advance payments from July through December of 2021.  These payments will be equal to half of what the IRS estimates eligible taxpayers will receive in child tax credit

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