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Tax News

Whether you’re looking for IRS announcements, industry updates or new tax laws, stay up to date with the help of TurboTax.

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Tax News

IRS Extends Tax Deadline for Disaster Victims in Tennessee, Alabama, and Kentucky

May 14, 2021 (Last Modified: May 18, 2021) / TurboTaxKat
IRS Extends Tax Deadline for Disaster Victims in Tennessee, Alabama, and KentuckyVictims of this spring’s storms and tornadoes that took place in Tennessee between March 25 and April 3, 2021 have left many in parts of Tennessee in a state of disaster. If you were impacted by the recent Tennessee storms,...

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Requirement to Repay Excess Advance Payment of the 2020 Premium Tax Credit is Suspended

April 27, 2021 (Last Modified: May 11, 2021) / TurboTaxLisa
Requirement to Repay Excess Advance Payment of the 2020 Premium Tax Credit is SuspendedUnder the American Rescue Plan Act of 2021, the requirement that taxpayers pay back a portion or all of their excess advance payment of the Premium Tax Credit (excess APTC) for tax year 2020 has been suspended. A taxpayer’s excess...

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What is My State Tax Deadline? What to Know About Coronavirus and State-Specific Tax Year 2020 Tax Deadlines

April 2, 2021 (Last Modified: April 15, 2021) / TurboTaxBlogTeam
What is My State Tax Deadline? What to Know About Coronavirus and State-Specific Tax Year 2020 Tax DeadlinesTax Year 2020 Filing and Payment Deadline Information  In response to the impact Coronavirus has been having on Americans, the IRS, and most state departments of revenue have extended the tax filing deadline for tax year 2020 (the taxes you...

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Unemployment Stimulus: Am I Eligible for the New Unemployment Income Relief?

April 1, 2021 (Last Modified: June 11, 2021) / TurboTaxKat
Unemployment Stimulus: Am I Eligible for the New Unemployment Income Relief?The recently passed third stimulus relief package, known as the American Rescue Plan, expands federal unemployment benefits and provides tax free unemployment benefits.   If you received unemployment benefits, TurboTax is here to help you understand what all of this means...

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Your Top Tax Questions About Coronavirus (COVID-19), Answered

March 30, 2021 (Last Modified: April 1, 2021) / TurboTaxBlogTeam
Your Top Tax Questions About Coronavirus (COVID-19), AnsweredIn response to coronavirus, the Treasury and IRS have announced several changes to the tax filing season, including an extension of the tax year 2020 federal tax filing deadline to May 17, 2021. Taxpayers getting a refund are encouraged to...

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IRS Announced Federal Tax Filing and Payment Deadline Extension

March 30, 2021 (Last Modified: May 14, 2021) / TurboTaxKat
IRS Announced Federal Tax Filing and Payment Deadline ExtensionWhat is the federal tax deadline? (Click here for state tax deadlines) The federal tax filing deadline has been extended to May 17, 2021 for individual returns.   This only applies to individual 1040 tax returns, not business tax filing deadlines...

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What The Coronavirus Relief and New Tax Deadline Mean for Your IRA Contributions

March 30, 2021 (Last Modified: March 31, 2021) / TurboTaxLisa
What The Coronavirus Relief and New Tax Deadline Mean for Your IRA ContributionsIn response to coronavirus (COVID-19), the Treasury and the IRS recently announced changes to the tax deadline.   The federal tax filing deadline has been extended to May 17, 2021. Taxpayers getting a refund are encouraged to file their taxes now...

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Where’s My Third Stimulus Check?

March 22, 2021 (Last Modified: May 28, 2021) / TurboTaxKat
Where’s My Third Stimulus Check?A third round of stimulus checks is on the way for millions. The American Rescue Plan, a new COVID relief bill, was signed into law on March 11, 2021. The bill includes a third round of stimulus payments for millions...

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American Rescue Plan: What Does it Mean for You and a Third Stimulus Check

March 18, 2021 (Last Modified: June 7, 2021) / TurboTaxLisa
American Rescue Plan: What Does it Mean for You and a Third Stimulus CheckMarch 12: The IRS has begun distributing stimulus payments and we expect eligible people could receive their stimulus payments as early as next week (March 17th). We anticipate that the IRS Get My Payment tool will be updated next week. ...

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Tax News

What Coronavirus Relief Means for College Students and Grads

March 18, 2021 / Jim Wang
What Coronavirus Relief Means for College Students and GradsCoronavirus has significantly changed the way we currently live our lives. My wife is a professor at the University of Maryland, and she’s seen first hand the impact it’s had on the university. Many of the classes are now online...

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