Tax day 2021: Everything you need to know
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Confused about filing taxes this year? You’re not alone. The COVID-19 pandemic, along with the life changes and government relief measures it triggered, has made things extra complicated.
But there’s extra time — the deadline for federal and California income taxes is delayed until May 17. And there are new benefits to be gained.
Here are some articles to get you on track.
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Did you collect unemployment benefits, create a home office, pick up gig work or pay big medical bills in 2020? Those kinds of changes can have tax implications.
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Home-office expenses eligible for a California tax write-off can include desks and chairs, as well as a portion of your rent, utilities, homeowner’s insurance or renter’s insurance and repair and maintenance costs.
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How much stimulus money will you receive? That depends on your most recent income tax return, so if you had less income in 2020 than in 2019, file your federal tax return as soon as possible.
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The California Policy Lab says a stimulus gap may be between 2.2 million Californians and payments that are owed to them. Up to $5.7 billion may be unclaimed. To get your share, you probably need to file a tax return.
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The IRS promises to refund taxes that early filers paid on the first $10,200 of unemployment benefits earned last year. The money may not show up until summer.
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A closer look at what’s in the COVID-19 economic relief bill, including when the $1,400 checks would arrive and who would get unemployment.
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Home-office expenses eligible for a California tax write-off can include desks and chairs, as well as a portion of your rent, utilities, homeowner’s insurance or renter’s insurance and repair and maintenance costs.
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The agency is still figuring out what the final deadline will be, as new legislation and the COVID-19 pandemic have disrupted taxpayer plans.
