An Update on the 2021 Filing Season
An Update on the 2021 Filing Season We understand that we are not alone in saying the Coronavirus pandemic has changed much about the way we work. For your continued trust in the face of those changes, we are grateful. We are writing this letter because even as the news related to the pandemic grows more optimistic overall, it continues to make tax filing season rather messy. In order to set reasonable expectations and to help you avoid frustration, we want to update you on where things stand. One year ago, the IRS postponed the 2019 income tax filing deadline by three months in response to the pandemic. By that time, the Families First Coronavirus Response Act and the CARES Act (two huge pieces of virus-response legislation) had established the Paycheck Protection Program (PPP) and a multitude of payroll tax credits and grants for small businesses who were impacted by the virus. Those bills also created numerous other significant changes to the tax code. The additional time...