Wanted to give you a quick heads up about a “secret” that I discovered:
Your clients who claim college kids age 18 – 24 as dependents will (*generally speaking) qualify for a “one time” Child Tax Credit payment of $500, paid to them as an advance.
So, if you have clients who get an “extra” $500 (or $1,000, if two kids) on this month’s Advance Child Tax Credit, check if they have a college student dependent, because that could be the reason for the extra money.
On July 1, we released “Version 1” of the CTEC 20 Hour Update & Refresher course, which tells you about the new Child Tax Credit changes and all the other federal and California tax updates you need to know for tax year 2021.
- If you’re already a CTEC Forever Edition Member, you can simply log into your Pronto Tax School account and view the new 20 Hour CTEC course right there waiting for you.
- If you’re not yet a CTEC Forever Edition Member, you can click here to get immediate access to the new course that has all the tax year 2021 changes and updates.
We are going to be hosting a few live “Q & A” sessions about all the 2021 tax changes soon, only for Forever Edition Members, so hopefully we will get as many people into those sessions as we can so that we can all discuss things together.
(If you’re not a CTEC tax preparer, please shoot me a quick email reply with your correct credential, so that we only send you info that’s relevant to you!)
If you have questions or need help, please feel free to reach out to our support team via email at firstname.lastname@example.org or phone 310-422-1283.
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