Remember to provide the amount of the Recovery Rebate Credit (also known as the Stimulus Payment) you received in 2021 with your tax documents. The Recovery Rebate Credit was $1,400 for each eligible individual ($2,800 for a joint return) plus $1,400 for each dependent. The IRS distributed the advanced refund based on 2019 or 2020 returns starting in March 2021. The payment was either a direct deposit, check or a prepaid debit card, so make sure to check their records / bank statements to see if this was received. While it is not considered taxable income, it is important to let your tax preparer know if you received that money.

REMINDER: If you are using your eVault Client Portal to upload tax source documents. Please put them together and upload one file or as few files as possible. When you are finished, e-mail our Tax Department at tax@valleynationalgroup.com.