TaxAct Launches Campaign to Help Hundreds of Thousands of Puerto Rican Families Claim Expanded Child Tax Credits
DALLAS, TX - March 11, 2022 – TaxAct®, a leading DIY tax preparation solution, has launched an awareness campaign to help Puerto Rican families claim monies available to them in expanded Child Tax Credits, partnering with local influencers and media outlets to highlight changes in the law and increased eligibility and with InComm Payments, a leading global payments technology company, to assist in delivery of funds through Serve®. The company has also launched a dedicated page on its website with instructions on how to file and lowered associated filing fees to only $19.95.
Previously, Puerto Ricans were required to prove residency and taxable income, as well as meet a minimum number of dependents to receive Child Tax Credits introduced through the American Rescue Plan. Now, Puerto Ricans must only show that they lived in the territory for six months during 2021 and are no longer required to have taxable income to receive payments.
The number of children necessary to qualify has also been lowered from three to one. Families can claim the enhanced maximum credit of up to $3,000 for qualifying children ages 6-17 or $3,600 for children ages 5 and under and must file a Form 1040-SS to claim their payment.
“These Child Tax Credits can be a game-changer for families of all sizes,” said Mark Jaeger, VP of Tax Operations. “Filing one simple form enables Puerto Rican families to receive thousands of dollars per child. This money can make a huge difference in their lives, and we want to help ensure that they get it!”
Through Serve, InComm Payments will facilitate the fast, cost-effective delivery of tax refunds and child credits to qualified individuals. In addition to providing a convenient digital experience and on-the-go money management, Serve does not require a credit check and has competitive fees.
“Our products and technology are perfect for assisting in the delivery and management of funds,” said Adam Brault, Senior Vice President of Financial Services at InComm Payments. “We’re glad to provide flexibility and convenience to families who are looking to access their money in the most efficient way possible.”
“We’re working hard to spread the word about these Child Tax Credit requirement changes to as many Puerto Rican families, as possible,” added Curtis Campbell, TaxAct President. “We want to do everything we can to be the best partner that provides them with a simple, affordable and convenient way to collect what is theirs.”
If you are a resident of Puerto Rico, visit TaxAct’s dedicated website page to begin the process to claim your Child Tax Credit today.
TaxAct is a savvy, tax-ﬁling solution that provides filers with aﬀordable DIY tax software to successfully navigate the U.S. tax code. As a pioneer in the industry, TaxAct’s products enable all users – regardless of profession, tax bracket or complexity of their return – to quickly and accurately ﬁle their taxes all while discovering new ways to leverage their tax situation and improve their ﬁnancial well-being. At TaxAct, taxes are our expertise, but we don’t see them as the end goal. Rather, we believe taxes are a stepping-stone to possibility. Possibilities that are unique as every ﬁler. Possibilities that help each hardworking American not only claim the money they deserve but also enable them to make smart money decisions. We deliver the power of possibility through straightforward technology to help ﬁlers secure their best tax outcome and elevate their ﬁnancial lives.
Blucora, Inc. (NASDAQ: BCOR) is on the forefront of financial technology, pioneering tax-smart financial solutions that empower people's goals. Blucora operates in two segments including wealth management, through its Avantax Wealth Management business, the No. 1 tax-focused broker-dealer, with $76.2 billion in total client assets as of September 30, 2020, and tax preparation, through its TaxAct business, a market leader in tax preparation software with approximately 3 million consumer and professional users. With integrated tax and wealth management, Blucora is uniquely positioned to provide better long-term outcomes for customers with holistic, tax-advantaged solutions. For more information on Blucora, visit www.blucora.com.
About InComm Payments
InComm Payments is an innovative global payments technology provider. Leveraging dynamic technology and proven expertise, InComm Payments delivers enhanced end-to-end payment platforms and emerging financial technology solutions through a single integration, helping businesses grow across a wide range of industries including retail, healthcare, tolling & transit, incentives, mobile payments, digital currencies and financial services. By enabling omnichannel connections and alternative payment options to an ever-expanding consumer base in an increasingly digital ecosystem, InComm Payments creates seamless and valuable commerce experiences across the globe. With three decades of experience, over 500,000 points of distribution, 402 global patents and a presence in more than 30 countries, InComm Payments leads the payments industry from its headquarters in Atlanta, Ga. Learn more at www.InComm.com.