Stallings Tax Service

IT'S FINALLY TAX TIME!!

NEED EXTRA CASH??

Stallings Tax Service is excited to announce that we are currently offering up to $6,000 in CASH ADVANCES starting today.

* No Credit Checks
* 24 Hour Approval

Call / Text (860) 922-8650 or Inbox us to schedule your appointment.

It's almost that time of year! Here are few changes that may affect your tax refund. *This means that taxpayers will likely receive a significantly smaller refund compared with the previous tax year.

2022 Changes:

- Changes in the number of dependents, employment or self-employment income and divorce among other factors may affect your filing status and refund for 2023.

-No additional stimulus payments (unlike 2020 and 2021 you will not get additional payments on your 2022 tax return)

- *Child Tax Credit (CTC) For a comparison, those who got $3,600 per dependent in 2021 for the CTC will get $2,000 for the 2022 tax year. Will revert back to Pre Covid levels.

- *Earned Income Tax Credit (EITC) Eligible taxpayers with no children who received roughly $1,500 in 2021 will now get $500 in 2022. Will revert back to Pre Covid levels.

- *Dependent Care Credit returns to a maximum of $2,100 in 2022 instead of $8,000 in 2021. Will revert back to Pre Covid levels.

- More taxpayers will be receiving Form 1099-Ks (All third-party payment platforms are required to issue Forms 1099-K when payments to merchants for goods and services exceed $600.)
1099-Ks should be mailed out no later 1/31/23.

As always please don't hesitate to reach out to us with questions or concerns. We are always here to answer questions.