Tax Season 2019 - Quick Updates!

Some Quick Updates:

Child Tax Credit increase from $1,000 to $,2000! Remember, this is in addition to the $500 for dependents that didn't qualify for the Child Tax Credit. Not bad, huh? Of course not!

Taxpayers with No Tax Due can still be eligible for a refund of up to $1,400! However, you will only get the refund - if you file a tax return.

401K contributions limit increased from $18,500 to $19,000! Take advantage.

IRA contributions limit increased from $5,500 to $6,000! Take advantage.

ITIN Folks - Make sure you renew asap or prior to year-end.

One easy way to maximize your refund and avoid delays of receiving it is to merely have a folder or place where you keep all your current year tax documents, such as your 1095-A (healthcare), 1099-R (retirement), and if you're self-employed and do not have a bookkeeper - get one! You're throwing away money without knowing.

Prior Year Tax Returns - if you have prior year tax returns that you need help with resolving issues associated with them, call us. We'll get it rectified for you. Simply send us an e-mail at dsl@taxlargiecpa.com or call us at (786) 715-6781.