We're talking taxes with JRC Celan
Ryan Dodson with Liberty tax services.
Alright, so Ryan, this person
says why did they give more
time to file taxes this year?
Well, there's a whole bunch of reasons
why they ended up extending the deadline.
The main reason is is that they
changed the tax law in March,
so the IRS had to reset all
their computers in their in their
programs to be able to handle that.
Also, the IRS has been distracted
with getting out that third round
of stimulus checks, so I mean,
those are two really big ones as it
isn't CRS asked and a whole bunch
of other folks such as the AICPA,
which is the all the Cpas they
asked the IRS in Congress to
please extend the deadline Bama.
Alright Jr, this person is asking my
preparar left one of my dependants
off when she prepared my taxes.
What should I do? I've already
received a refund for the others.
Now that that first tax
return has been processed,
you should be able to do an amendment
just to add that dependent apply for
any credits that you might be do.
Whether the other dependent credit,
child tax, credit earned, income,
credit and Amendment should be
pretty straightforward for any
season tax preparer to help you out.
OK, this is a North
Carolina State tax question.
Ryan, this person says if you
own North Carolina State tax,
can you make payments or do you
have to pay it all in one sum?
You can make payments with this state.
The state will take it at anytime.
My big key is that if you are
making multiple payments for it,
please on the check or when you
go online to pay the taxes online.
Please make sure you designate that
payment toward that specific tax year.
If you don't put on you don't
put in the memo of the check
of what tax year is from.
They may make the assumption is
for this year's taxes,
not a prior years taxes
OK, and just to be very clear, again,
as of today you were supposed to
be paying your North Carolina State
taxes because the law needs to change.
They're working on the law,
and that means that yes,
they could assess you some interest rate,
but they're probably not going to 'cause
they're going to waive the whole thing.
Let's certainly hope so. Yeah,
that's what they did last year.
Let's certainly hope so.
CJR this person is asking if I did not
receive the last stimulus of $400 a $1400.
Do I have to wait until next year?
Tax filing to claim the stimulus?
Or can I still claim it this year?
Yes, so next year's tax return
is the only way that you'll be
able to claim the recovery rebate
credit for the $1400 stimulus.
But I wouldn't give up hope yet.
They're still processing some
of those $1400 stimulus checks,
so keep an eye on the mailbox.
Watch your bank account if you
have direct deposit set up,
so you might not be out of luck yet.
But yes, you have to wait and
see on next year's tax return
if you missed out element, but
the IRS is doing payments every
single week, so hang in there, right?
This person is asking do you get?
A refund quicker if you e-file Ryan.
Yes, you by all means you get a lot
quicker e-filing, typically 90% of
all refunds come within 21 days.
From a federal perspective,
so we highly encourage all of our clients
to get into e-file their tax return,
and to use direct deposit.
Alright Jr, this person says
how much can you give to a child
without Incuring gift tax.
Oh, I don't have the exact
dollar amount in front of me.
I believe it is right at 15,000,
but there's some other
factors that come into play.
If that child is married,
you might be able to
give to both individuals.
If you're married,
you and your spouse might be able to give.
Would truly make for sure that you
sit with a tax consultant before
you make a transaction like that,
but I believe
it's right at 15,000 OK.
Ryan, this person says I have
a child who is turning 18.
I understand that the child tax
credit is going to start mailing
out checks for those who are 17
and under the child is going to be
17 all the way through the summer.
Am I going to get a check?
You know, unfortunately,
telling you the answer to that one is no.
So you could turn 18 on December
31st and be 'cause you're you're
considered 18 for the entire year.
You are not going to be eligible for
the Child Tax Credit.
You are not eligible if the child
turns 18 at any point during the year.
OK, and this last one is
any state refunded paid.
Can it be by check or by direct deposit?
How do you know?
So typically you will indicate when
you file your tax return how you would
like to have your refund sent to you.
So if you put the direct
deposit information in there,
you're going to get a direct deposit.
If you don't indicate,
then you'll receive a check in the
Mail. Alright, that is your choice.
Thank you man for your expertise.
If you missed any of this
information about tax season,
you're going to find it all in
the two wants to know section.