Still have questions after you file your tax return?
If you filed your 2020 tax return by the May 17 deadline but still have questions, here are some answers to frequently asked questions.
top of page
Outlook
News, views, and ideas shaping the future.
Jay Rueger
May 18, 20216 min read
The Biden administration proposes far-reaching tax overhaul
If you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, here’s a handy guide.
-
May 12, 20212 min read
Working in the gig economy results in tax obligations
The pandemic has caused some people to turn to “gig” work to make up for lost income. Here are the tax consequences of taking on these jobs.
-
May 12, 20212 min read
Help ensure the IRS doesn't reclassify independent contractors as employees
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here are the basic rules to help
-
May 5, 20212 min read
Tax filing deadline is coming up: What to do if you need more time
Americans got extra time to file their tax returns this year, but the deadline is looming. Here’s what to do if you’re not ready.
Brian Stautberg
Apr 30, 20213 min read
President Biden details his tax proposals for individuals
What could President Biden’s tax proposals mean for you? Here’s a brief rundown of the “American Families Plan.”
Gwen DiMeo
Apr 27, 20212 min read
Why it's important to meet the tax return filing and payment deadlines
The IRS imposes penalties for failing to file required tax returns & pay taxes due. Review penalty amounts for the May 17 deadline.
-
Apr 21, 20212 min read
Unemployed last year? Buying health insurance this year? You may benefit from favorable new changes
The tax changes enacted due to COVID-19 may affect you if you collected unemployment or bought health insurance through "Marketplace."
Victoria Ma
Apr 13, 20212 min read
Home sales: How to determine your “basis”
When you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
Linda Brogan
Apr 6, 20212 min read
Who qualifies for "head of household" tax filing status?
If you qualify to file as a “head of household,” you may pay less tax than if you file your tax return as a “single” individual.
Michelle Grant
Apr 6, 20212 min read
Tax advantages of hiring your child at your small business
Thinking about hiring your teenager to work in your business? There can be significant tax benefits.
Janie Evans
Mar 30, 20212 min read
How to ensure life insurance isn't part of your taxable estate
Have a life insurance policy? You may want to ensure the benefits your family receives after your death won’t be included in your estate.
-
Mar 30, 20212 min read
Need a new business vehicle? Consider a heavy SUV
Some business owners are starting to think about buying a car this spring. Here’s an option that may save on taxes.
Debora Girardot
Mar 23, 20212 min read
New law tax break may make child care less expensive
Child care is expensive. The newly enhanced child and dependent care credit may help for 2021.
Nathan Oswald
Feb 22, 20212 min read
Reporting restricted cash and cash equivalents
Here’s how to report any restrictions on cash and cash equivalents.
Avleen Marwah
Feb 16, 20212 min read
Did you make donations in 2020? There’s still time to get substantiation
What if you haven’t received one yet for a charitable donation you made in 2020?
Victoria Ma
Feb 10, 20213 min read
2021 individual taxes: Answers to your questions about limits
Acquaint yourself with tax amounts that may have changed for 2021. Check out the Q&As about tax amounts for this year.
-
Feb 8, 20212 min read
Many tax amounts affecting businesses have increased for 2021
A number of tax-related limits affecting businesses are annually indexed for inflation, and many have increased for 2021.
Troy Skeens
Feb 4, 20212 min read
The power of the tax credit for buying an electric vehicle
Thinking about buying a new electric vehicle? Check out the federal tax break that may be available.
Avleen Marwah
Jan 26, 20212 min read
Don’t forget to take required minimum distributions this year
If you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them aga
bottom of page