2020 Tax FAQ

Are my unemployment benefits taxable? Normally, yes however for 2020 the first $10,200 of unemployment benefits are tax-free.   What to do if I already filed my taxes and I had unemployment? The IRS also recently announced that filers who submitted their 2020 tax returns without accounting for a tax exemption on $10,200 of unemployment…

How to Choose a Tax Preparer

IRS Tax Tip 2020-165, December 3, 2020: As taxpayers get ready to file their 2021 taxes, they may be thinking about hiring a taxpreparer. People should choose a tax preparer wisely. This is important because taxpayersare responsible for all the information on their return, no matter who prepares it for them.There are different kinds of tax preparers,…