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The Infrastructure Bill Was Signed Into Law: What Does it Mean for You and Your Taxes?

November 15, 2021 (Last Modified: November 18, 2021) / TurboTaxLisa

President Biden signed the $1.2 trillion Infrastructure Bill into law today providing investments into America’s infrastructure, so you may be wondering “what does the Infrastructure bill mean for my taxes?” Here are a few key things you need to know...

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IRS Provides Further Guidance on the Taxation of Virtual Currency

September 20, 2021 / TurboTaxLisa

On October 9, 2019, the IRS released further guidance on how virtual currency should be taxed. The last guidance, issued in 2014, explained that virtual currency is treated as property for Federal income tax purposes and applied tax principles applicable...

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IRS Provides Tax Relief for Victims of Hurricane Ida

September 9, 2021 (Last Modified: November 18, 2021) / TurboTaxKat

Hurricane Ida, which began on August 26, barreled through the states of Louisiana and Mississippi, leaving millions without power and in a state of disaster. Many other states also fell victim to the remnants of Hurricane Ida that caused flash...

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California Golden State Stimulus

July 14, 2021 / TurboTaxBlogTeam

Golden State Stimulus II (GSS II) July 14, 2021: On July 13, California signed the Golden State Stimulus II, a $100 billion budget deal that will include a second round of California stimulus payments. Qualifying individuals with incomes between $30,000...

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

May 14, 2021 (Last Modified: May 18, 2021) / TurboTaxKat

Victims 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

Under 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

Tax 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

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

In 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

What 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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Tax News

The Infrastructure Bill Was Signed Into Law: What Does it Mean for You and Your Taxes?

IRS Provides Further Guidance on the Taxation of Virtual Currency

IRS Provides Tax Relief for Victims of Hurricane Ida

California Golden State Stimulus

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

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

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

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

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

IRS Announced Federal Tax Filing and Payment Deadline Extension

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