Valenzuela Income Tax Service

It's April and around the corner your taxes are due. April 18th is the last day for filing. Need help preparing your taxes call or text me at 661-662-8910. My email address is: [email protected]

Hello, my name is Maria Valenzuela. I have been a Tax professional for 32 years. I worked for H&R Block for 25 years and decided to start my own business. It has been 6 years running my own business as Valenzuela Income Tax Service. Please feel free to contact me for any questions regarding taxes and advice at 661-662-8910. My email address is: [email protected]

If you did not received your first & second stimulus, there is a Recovery Rebate credit available.

You can file a return for the Recovery Rebate credit Who qualifies for a recovery rebate credit (stimulus backpay)?
The qualifications start with stimulus eligibility. For the first and second stimulus payments, that includes everyone except those:

Who can be claimed as a dependent on someone else’s return;
Without a valid SSN (except for certain U.S. armed forces if on spouse has an SSN)*;
With AGI above the maximum phase-out;
Nonresidents;
Estates and trusts.
*A qualifying child for the payments can have an SSN or ATIN

For single or married filing separately taxpayers, the credit is phased-out (or lowered) for those with AGI over $75,000.

For head of household filers, the phaseout begins with AGI over $112,500 and married filing jointly phaseout begins with AGI over $150,000.

If your eligibility or situation changed (such as a first-time filer), you might find that you’ll receive additional stimulus money. Check out the section below on how to claim the recovery rebate credit.

Here are a few examples of who might have missed out on stimulus money:

Families with birth or adoption
Separated and divorced parents who alternate years to claim their children
Some first-time filers, such as college students who are no longer dependents
People who haven’t filed in a while
People with a lower Adjusted Gross Income (AGI) in 2020
That last example—lower income—may describe you if you experienced unemployment, reduced hours or a job change in the last year.

While the additional stimulus money from the recovery rebate is good news, you should take note that the situations above can also affect your tax refund (or what you owe). We cover that information in our Top 5 coronavirus tax impacts article.

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