Rogers & Rudisill CPAs, PC

There are changes to 2020 taxes that you need to know about. The Rescue bill that was passed by the House yesterday and should be signed into law on Friday changes how unemployment will be taxed retroactive to 2020.

What this means for you is that if you received unemployment in 2020 and have not filed your returns you may want to wait. The act makes the first $10,200 in unemployment received tax free for taxpayers making less $150,000/yr. Once this bill is officially signed into law we will have to wait for official guidance and software updates.

Just a friendly reminder. Have a great week!

Reminder: File homestead exemptions by April 1 for 2021 tax year The Forsyth County Tax Assessors Office reminded residents Thursday to file for homestead exemptions and the age 65 school tax exemption for this tax year.

The IRS just announced that tax season will begin on February 12th. This means that no efiles will be processed until that date.

This delay is caused by the legislation passed by Congress on December 27th which included tax law changes.

Don't wait to get your information in with the delayed start to efiling accounting and tax firms are going to be extremely busy and waiting to provide your information will lead to longer waits to get your return completed.