A Note Regarding COVID-19
Due to the uptick in COVID-19 cases, the office is closed to the public until further notice unless you have an approved scheduled appointment.
*Masks are required regardless of your vaccinated status.
Some staff members continue to work remote.
Please use the staff’s email or direct lines to contact them. We will respond to you by either phone or email.
For the safety of our clients and staff, we will continue to mail all tax returns unless we have been notified to send them electronically. Clients can continue to utilize the drop slot in the front door for contactless drop offs. You can also continue to mail your tax documents, fax or email them to us. Please contact Shelby if you would like to email your tax documents. Shelby will provide you with a secure link to upload your documents.
We will also continue to offer Zoom and Telephone Conferences as well as in-house meetings.
*Please do not come to the office if you are not feeling well or if you have been exposed to COVID-19. We will make arrangements to get your information or reschedule your appointment via phone or Zoom.
Save IRS Letters & Save Some Aggravation
The Internal Revenue Service Center is sending taxpayers two letters in January 2022, known as letters 6419 & 6475. Taxpayers are to retain all IRS correspondence.
Letter 6419 identifies the Advanced Child Tax Payments that were distributed in 2021.
Letter 6475 identifies the third stimulus amount that was distributed as the 2021 Recovery Rebate Credit. Reporting the correct amounts is essential to smoother processing of 2021 tax returns.
Please note: The IRS will no longer be mailing out Letter 4869C- which would have had PIN numbers for all taxpayers on it allowing returns to be E-Filed. The IRS is encouraging taxpayers to go online to the IRS website and request a PIN Number – BUT it is not required.
Advance Child Tax Credit
The first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan was made on July 15 and payments will continue to go through December, 2021. Payments will be made on the 15th of each month unless the 15th falls on a weekend or holiday. Eligible families will receive a payment of up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6-17 at the end of 2021. No action is needed by most families to receive these payments.
Households will receive the advanced monthly CTC payments through direct deposit, paper check, or debit cards. Direct deposit is the fastest and most secure delivery option. Please click this link for the most up to date information and requirements to receive CTC payments. To change your bank account information or to OPT OUT of the advanced payments, please select “Manage Advance Payments” on this page.
On Wednesday, March 17, 2021, the Treasury Department and Internal Revenue Service announced that the FEDERAL income tax filing due date for individuals for the 2020 tax year will be automatically extended to May 17, 2021. Individual taxpayers can also postpone Federal income tax payments for the 2020 tax year to May 17, 2021, without penalties and interest, regardless of the amount owed. This postponement applies to individual taxpayers, including individuals who pay self-employment tax.
Massachusetts Department of Revenue has also automatically extended the income tax filing due date for individuals for the 2020 tax year to May 17, 2021. Individual taxpayers can also postpone Massachusetts income tax payments for the 2020 tax year to May 17, 2021.
*This relief does not apply to Federal and Massachusetts estimated tax payments that are due on April 15, 2021. First Quarter 2021 ESTIMATED tax payments are still due on April 15th.*
Some State tax returns and state tax income tax payments are still to be filed and paid by April 15th. Please click this link to see if your state has extended the tax filing deadline.
UNEMPLOYMENT: On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 into law. It contains a provision allowing taxpayers to subtract up to $10,200 of FEDERAL unemployment compensation received for tax year 2020. If you have already filed your 2020 tax returns, DO NOT Amend your returns, we are still awaiting guidance from the IRS. We are still waiting to hear if Massachusetts and other states will follow suit.
Interested in working together?
Here's our contact info.
Alexander Advisors, LLC
284 Ayer Road, Harvard, MA 01451
Tel: (978) 772-1400 • Fax: (978) 772-7314
Email Address: smorris@dbalexander.com
Office hours: 9:00 a.m – 5:00 p.m.