Pandemic, stimulus checks complicate tax-filing season for millions
By Naomi Jagoda - 02/16/21 06:00 AM EST
The tax-filing season is now underway after a delayed start, and it’s expected to bring challenges and confusion as taxpayers and the IRS navigate pandemic-related issues, including some pertaining to stimulus checks.
The IRS started accepting 2020 tax returns on Friday, a couple of weeks later than the usual, after a coronavirus relief law was enacted in late December.
Many Americans saw significant changes to the amount and sources of their income last year because of the pandemic, and they will have to file returns that take those into account.
People who have not received any or all of the funds that they’re entitled from the two rounds of stimulus payments can reconcile that on their 2020 return.
“2020 was kind of a year for the ages and all the life experiences it took with it,†said Mark Steber, chief tax information officer for the tax-preparation company Jackson Hewitt. “There’s a lot for people to watch for on their taxes, and a lot to watch out for.â€
The IRS is expecting to process around 160 million individual tax returns this year. The agency said it’s prepared for the influx.
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https://thehill.com/policy/finance/538668-pandemic-stimulus-checks-complicate-tax-filing-season-for-millions
