Rossen Reports: How to get an extra $5,000 on your tax return
Hi, let's get right to the rundown. First up tax season has started a new parents. You can actually cash in on an extra $5000 on your refund. I'm going to tell you how then a popular social media app is adding an extra safety feature for teenagers and finally hidden amazon prime perks you probably aren't using but you should be. I'm gonna give you the inside scoop and walk you through it first. New parents can get an extra payday, this taxis and the I. R. S. Says if you welcomed a new family member in 2021 whether you had a baby or you adopted a child where you became a legal guardian, you could be eligible for an extra $5000 in your refund. Here are the three ways you'll know if you're eligible one. If you didn't get the advanced child tax credit for that child last year, which is worth $3600 for kids under the age of six if you didn't get it. That's one of the ways you know, to that new family member did not get the $1400 stimulus check last year and three you don't exceed the income guidelines. So how do you get this $5000 payment, Whether you're required to file your taxes or not file them in the process, you can claim the money through what's called the recovery rebate credit. I'm going to put more details on how to do this, Where to find this on the forms on my website. Rawson Reports dot com but it's worth it. It's worth 5000 bucks. Next up Snapchat is making its app safer for teenagers, You know this section of the app right over here, it's called the quick add. You can see people who have added you on. The app gives you a list of people for you to add In. A new safety feature, Snapchat says it's going to limit these friend suggestions for teenagers to prevent them from coming into contact with a stranger. Kids from 13 to 17 years old will now only see suggestions that have a certain number of friends in common with that person. Think Facebook mutual friend thing. They're not saying how many mutual friends they need to have in common for it to pop up. But the app does promise teens will have to actually know the person in real life for them to pop up here, we're going to keep an eye on that. And finally, if you're a prime member on amazon you could be missing out big on some exclusive deals here are just a few I found that about, I wanted to share these with you first. There's this whole section right here dedicated to deals just for prime Members. So here's what I want you to do. Go up to the search bar up here, click all then on this little dropdown do just for prime check out the discounts on everything from wireless earbuds, two chargers to stuff for the house. Even tools. Next up, need an unlimited place to store your pictures and in cloud storage usually cost you extra. We all know that. But for Prime members you get unlimited storage space for photos. You can even set it up to auto, save all the pictures on your phone as a backup. It's free. Finally you can save money on prescriptions with one of these perks. It's called Prime R. X. You have to go click into its Prime Rx on the website. It offers discounts on medications that may not be covered under your insurance or if you don't have insurance at all, just type in the Medicaid. Once you're in the Prime Rx area, type in the medication, you can check out how much you're going to save. You can also use pre max at your local pharmacy. You've got to sign up for a card, will show you how to do that on my website or amazon's online pharmacy. I'm gonna put all of this on my website, Rawson Reports dot com so you can walk through it nice and easy. That's all for today. Back to you
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Rossen Reports: How to get an extra $5,000 on your tax return
New parents could get an extra payday this tax season. The IRS says if you welcomed a new family member in 2021, you could be eligible for an extra $5,000 in your refund. This is for people who had a baby, adopted a child, or became a legal guardian. But you must meet these criteria:You didn’t receive the advanced Child Tax Credit payments for that child in 2021. For children under the age of 6, that’s worth $3,600. The new child didn’t receive the $1,400 stimulus check in 2021 either. Your family doesn’t exceed the income guidelines. For the Child Tax Credit; the income guideline for single filers is $200,000 or less. For couples filing jointly, the income guideline is $400,000 or less. For the stimulus payments; the income guidelines for single filers is $75,000 or less, $112,500 or less for heads of households and $150,000 or less for couples filing jointly. How do you get the payment? Financial experts say, even if you’re not required to file your taxes, file them. That’s how you’ll get this money. You’ll know if you need to add in the Child Tax Credit and you’ll file a Recovery Rebate Credit on the tax form for that remaining money. Remember, if you’re income is $73,000 or less, the IRS actually provides a way for you to file online for free with its Free File Program. Need more information? The IRS posted a helpful guide on how to file your taxes and what’s new this tax season. Click here to read it.
New parents could get an extra payday this tax season.
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The IRS says if you welcomed a new family member in 2021, you could be eligible for an extra $5,000 in your refund. This is for people who had a baby, adopted a child, or became a legal guardian. But you must meet these criteria:
- You didn’t receive the advanced Child Tax Credit payments for that child in 2021. For children under the age of 6, that’s worth $3,600.
- The new child didn’t receive the $1,400 stimulus check in 2021 either.
- Your family doesn’t exceed the income guidelines. For the Child Tax Credit; the income guideline for single filers is $200,000 or less. For couples filing jointly, the income guideline is $400,000 or less. For the stimulus payments; the income guidelines for single filers is $75,000 or less, $112,500 or less for heads of households and $150,000 or less for couples filing jointly.
How do you get the payment?
Financial experts say, even if you’re not required to file your taxes, file them. That’s how you’ll get this money. You’ll know if you need to add in the Child Tax Credit and you’ll file a Recovery Rebate Credit on the tax form for that remaining money. Remember, if you’re income is $73,000 or less, the IRS actually provides a way for you to file online for free with its Free File Program.
Need more information? The IRS posted a helpful guide on how to file your taxes and what’s new this tax season. Click here to read it.
In the realm of tax returns, claiming deductions and credits is key to maximizing your refund. Jeff Rossen highlights an opportunity for new parents in 2021 to potentially gain an extra $5,000 in their refunds. This additional benefit applies to those who welcomed a new family member, be it through birth, adoption, or becoming a legal guardian. The eligibility criteria involve specific scenarios: not receiving advanced Child Tax Credit payments (worth $3,600 for children under six), the new child not receiving a $1,400 stimulus check, and adhering to income guidelines ($200,000 or less for single filers, $400,000 or less for joint filers).
This bonus can be claimed through the Recovery Rebate Credit, emphasizing the importance of filing taxes, even if it's not mandatory. The IRS's Free File Program is a resource for those with incomes of $73,000 or less, offering a means to file taxes online at no cost.
Shifting gears to social media safety, Snapchat introduces enhanced measures for teenagers by restricting friend suggestions in the app's "quick add" section. This change aims to minimize interactions with strangers, limiting suggestions to those with a certain number of mutual friends, reminiscent of Facebook's mutual friend feature.
Finally, Amazon Prime members might be missing out on exclusive deals. There's a section solely dedicated to Prime member discounts covering various products, from electronics to household items. Additionally, Prime membership provides unlimited photo storage and a prescription discount program, Prime Rx, which offers savings on medications not covered by insurance.
For more detailed instructions on how to leverage these opportunities, Jeff Rossen directs audiences to his website, Rossen Reports dot com, ensuring a thorough walkthrough for claiming the $5,000 refund, utilizing Snapchat's enhanced safety measures, and accessing hidden Amazon Prime perks like exclusive deals, unlimited photo storage, and prescription savings through Prime Rx.
