Tax Professionals Say A Lot Has Changed For 2021

Business Local News State News Saturday, April 3rd, 2021

black Android smartphone near ballpoint pen, tax withholding certificate on top of white folder
Photo by Kelly Sikkema on Unsplash

April is usually tax season across the Lake, but thanks to an extension from the Federal Government and the State of Missouri, filers now have until May 17th.

Tax officials say if you have kids…you’ll get more back in the child tax credit, but it may take a while for the return to be accepted.

“They are really reviewing the children, because fraud increase over 400% in one year” says Tax Expert Romy Riddle with H&R Block in Camdenton and Osage Beach.

She tells KRMS News the fraud was out of control in 2020 “you had people filing on other people’s children, you had people filing on dead people, you had people filing on homeless people. They caught a guy in Kansas City filing on two labradors they found a lady in Florida who was filing on a cabbage patch doll!”

Riddle says you should make sure you received all of your stimulus checks and the money that would have been owed to you, as you can claim it missing on your taxes and they will send it to you if you did not get it “what if you had a baby born, and it wasn’t on the 2019 return? Then you’d get the extra $600 for the first Stimulus, and $500 for the second Stimulus for that missing child.”

She also says you may be surprised to learn that your boat, if it’s a cabin cruiser and like, could count as a second home “most of the boats on our lake are self-contained, they have a potty, so it’s considered a second home. But you can’t have a third home, so if you have a home in say St. Louis, and you have a home down here, then you’re boat isn’t going to help you any.”

One thing Riddle says did change was the ability to take deductions on any moving expenses “that’s all been done away with. The only people who can claim moving expenses now is Military. And that’s going from one deployment to another, or on their way back home.”

You can setup an appointment with Romy Riddle by contacting the Osage Beach branch of H & R Block.

Business Local News State News Saturday, April 3rd, 2021

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