IRS Issues Tips for a Smooth Filing Season
The IRS released several tips aimed at ensuring taxpayers experience a smooth filing season. With the IRS dealing with unprecedented processing delays brought on by the pandemic, it’s more important than ever to do what you can to file a timely and accurate return.
Individual Tax Filing Season Begins January 24
April 18 is both the federal and Pennsylvania deadline to file your 2021 income tax returns or a timely filed extension request. (Tax Day is normally April 15, but is extended in 2022 because Washington D.C. will celebrate Emancipation Day on that date.)
2021 Tax Year in Review
After another rollercoaster of a year, now is a good time to consider the tax changes affecting 2021. The most significant changes for individuals came from American Rescue Plan Act enacted in March 2021 and the Consolidated Appropriations Act that was passed in December 2020.
Key Provisions of the New COVID-19 Relief Bill
Both chambers of Congress overwhelmingly passed a new $900 billion COVID-19 relief bill on Monday night. In addition to funding the federal government through September 2021, the legislation includes several provisions that will affect both individuals and businesses. Here are some of the highlights: