5650 Marconi Ave, Suite 22
Carmichael, CA 95608
Phone: (916) 225-5764
Office Hours: (by appointment only)
Monday - Friday 12:00PM to 9:00PM
Saturday 12:00AM to 6:00PM
Верните свои деньги!
~ Заполняю налоговые деклариции (е-file)
~ Начисляю все положенные вам кредиты
~ Бесплатно проверяю декларации за последние 3 года
~ Возвращаю деньги за прошлые годы и исправляю ошибки
~ Помогаю на налоговых проверках в IRS
~ Американское бухгалтерское образование
~ Ретурны для всех 50 штатов
~ Заполнение налоговых деклараций по интернету (svetra2@yahoo.com)
TAX WORLD SERVICE
SVIATLANA RAMANIUK, CRTP L#A145692
Dear Valued Client,
Thank you for choosing Tax World Service for the 2022 tax filing season. We know you have choices, and we want you to know how much we appreciate your business. We look forward to working with you again this tax season.
The Internal Revenue Service announced to open the 2022 filing season and begin processing individual income tax returns on January, 18 2023. Taxpayers have until April 18, 2023 to file their tax returns and pay any tax due.
What is new for the 2022 tax season?
Unfortunately, all last year extra credits are expired in 2022. Tax Legislation was returned to 2020 тах year.
Child tax credit and additional child tax credit.
Many changes to the child tax credit (CTC) implemented by ARP were not extended. For 2022:
• The initial credit amount of the CTC is $2,000 for each qualifying child.
• The amount of CTC that can be claimed as a refundable credit is limited as it was in 2020, except the maximum additional child tax credit (ACTC) amount has increased to $1,500 for each qualifying child.
• A child must be under age 17 at the end of 2022 to be a qualifying child.
Zero Income Young Child Tax Credit (YCTC) and Foster Youth Tax Credit (FYTC)
SB 201, expands the Young Child Tax Credit (YCTC) to include zero and negative income taxpayers. Prior to SB 201, to qualify for the YCTC, taxpayers needed to qualify for the Earned Income Tax Credit (EITC). One of the qualifications for EITC is earned income. SB 201 allows taxpayers with zero earned income or negative earned income (up to a negative $32,490) that don't qualify for EITC to still qualify for the YCTC.
Credit for child and dependent care expenses.
The changes to the credit for child and dependent care expenses implemented by the American Rescue Plan Act of 2021 (ARP), were not extended. For 2022, the credit for the child and dependent care expenses is nonrefundable. The dollar limit on qualifying expenses is $3,000 for one qualifying person and $6,000 for two or more qualifying persons. The maximum credit amount allowed is 35% of your employment-related expenses.
Changes to the earned income credit (EIC).
The enhancements for taxpayers without a qualifying child that applied for 2021 don’t apply for 2022. This means, to claim the EIC without a qualifying child in 2022 you must be at least age 25 but under age 65 at the end of 2022. If you are married and filing a joint return, either you or your spouse
must be at least age 25 but under age 65 at the end of 2022. It doesn’t matter which spouse meets the age requirement, as long as one of the spouses does.
The Middle Class Tax Refund (MCTR)
This is a one-time payment to provide relief to Californians. If you are eligible, you will automatically receive a payment. Payments are expected to be issued between October 2022 and January 2023. Single will get -$350, married - $700 and $350 for all dependants.
Standard deduction amount increased.
For 2022, the standard deduction amount has been increased for all filers. The amounts are:
• Single or Married filing separately—$12,950;
• Married filing jointly or Qualifying widow(er)—$ 25,900; and
• Head of household—$19,400
Standard Mileage Rates.
Beginning on Jan. 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 65,5 cents per mile driven for business use; 22 cents per mile driven for medical or moving purposes; 14 cents per mile driven in service of charitable organizations.
Reporting requirements for Form 1099-K.
Form 1099-K is issued by third party settlement organizations and credit card companies to report payment transactions made to you for goods and services. You must report all income on your tax return unless excluded by law, whether you received the income electronically or not, and whether you received a Form 1099-K or not
Health coverage tax credit
This credit is not available. The health coverage tax credit was not extended. The credit is not available after 2021.
Do not forget to bring 2022 enrollment verification letters from school or day care provider for your children (with child and parent names, home address and the year of verification - 2022) to claim all credits for kids. Letter from rental office, social services or your doctor visits (for more than 6 month) are acceptable too. If you can’t get any letter (for small children, for example) you will explain the reason (not a student, live in own home, did not go to health provider, and so on) on questionary.
More information about these and other changes, can be found in our office when you will fill out your 2022 Tax Returns. We start to file tax returns on January, 18 2022. Business hours are from 12pm to 9 pm. Monday to Satuday. We work by appointment or remotely.
Again, thank you for your business. and welcome back! We wish you a successful 2022 tax filing season.Remember, we will give you $5 for each person you refer to us.
For appointment call (916) 225-5764 or email svetra2@yahoo.com.
