There has been several major pieces of tax legislation in the last 13 months:
Tax Legislation Of The Last 12 Months
Families First Coronavirus Response Act - March 14, 2020
CARES Act - March 27,2020
Consolidated Appropriations Act of 2021 - December 27, 2020
American Rescue Plan Act of 2021 - March 11, 2021
Even simple 1040s have much more things to consider:
Personal Returns
Stimulus Check Reconciliation & Optimization
COVID Retirement Distributions
Return of RMD
Unemployment Compensation non taxable (as of 3/2021)
Health Care Premium Tax Credit
Charitable Contributions for Non-Itemizers
Self-Employment Tax Deferral Option
This doesn't even touch on all the business tax provisions.
We are urging patience to all of our clients so that we can be sure we are understanding and digesting all the available pieces of COVID-relief provisions that benefit our clients.
Thank you,
Pearson & Cmerek, PC