With the 2025 tax season just a few months away, taxpayers should know the contribution limit to know if they contributed more than the limit or not to estimate their tax liability for the 2024 tax year. Taxpayers who contribute to their retirement through 401k plans can check the full details here. 401k Contribution Limits … Read more
The refundable portion of the Child Tax Credit, the Additional Child Tax Credit (ACTC) is worth up to $1,600 per eligible child. To get the ACTC payout eligible Individuals must submit a Schedule 8812 along with their Form 1040 before the deadline. The ACTC payout will be provided to only those who meet the adjusted … Read more
Individuals who are waiting for their refund amount and want to check the status of their IRS refund for the qualifying tax year can conveniently do so through the IRS’s “Where’s My Refund?” tool. The status of taxpayers’ refunds will show around 24 hours after e-filing their tax returns for the current year. Where’s My … Read more
The Ontario Trillium Benefit helps beneficiaries pay for energy costs, sales, and property tax through credits. Ontarians who qualify for the OTB must wonder about their 2025 payment dates, as we are just one month away from 2025. Such recipients can check the 2025 OTB payment dates here and mark them on their calendars. Ontario … Read more
The refundable portion of the child tax credit is also known as the Additional Child Tax Credit (ACTC). The Child Tax Credit (CTC) provides up to $2,000 in tax reductions for every child who fulfills the eligibility requirements. The standard CTC can reduce individuals’ tax to zero.
The Canada Revenue Agency (CRA) administers the Alberta Child and Family Benefit (ACFB). It is an Alberta provincial government financial assistance program related to the Canada Child Benefit (CCB) program. Eligible households are going to receive their ACFB payments on 27 November 2024. $122.41 ACFB Monthly Payout The Alberta government has designed the Alberta Child … Read more
During the presidential campaign, Trump party Republicans have not announced any elaborate plan, but J.D. Vance, the current US Vice President has agreed that increasing the credit amount to $5000 will benefit the American families.
It is anticipated that the proposed payment will be provided soon to individuals who satisfy the eligibility requirements but unfortunately, a lot of the information about the $2,000 economic relief payment is still speculative.
The Supplemental Security Income recipients must have received their November payment on 01 November 2024. However, the recipients would be happy to know that they would receive the second SSI payment this month. The recipients who are excited about the second payment can check the payment date and other details here. $943 SSI November 2024 … Read more
The 2025 tax season will begin in January 2025, taxpayers must have started preparing to file their tax returns. With the tax returns, taxpayers always wonder about their tax refund dates. The article covers the full schedule of the federal tax refund payout with dates for taxpayers. Federal Tax Refund Payout Date The 2025 tax … Read more