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COVID-19 resources for accountants and tax professionals

Navigate the road ahead for your clients and business with the most recent and relevant COVID-19 news.

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Latest updates
(as of 7/28/21)

IRS readies nearly 4 million refunds for unemployment compensation overpayments. Read more here

How self-employed individuals and household employers repay deferred Social Security taxes. Read more here

Over 2.3 additional Economic Impact Payments disbursed under the American Rescue Plan. IRS will continue to make Economic Impact Payments on a weekly basis. Read more here

Taxpayers may receive a refund for taxes paid on 2020 unemployment compensation. Read more here

5 tools to manage remote employees during COVID-19. Read more here

IRS sending letters to 36+ million families who may qualify for monthly Child Tax Credit (CTC), and providing Non-filer Sign-up tool to help low-income families register for monthly CTC payments.

Get essential insights on the American Rescue Plan for individuals here, and get them for businesses here.

Texas and several other states such as parts of Tennessee get extended filing deadlines. See details including how to handle returns impacted by federally declared disaster zones here.

IRS guidance provides that amounts attributable to carryovers or an extended period for incurring claims on dependent care assistance programs for 2021 and 2022, are not taxable. Read more here

State conformity to federal COVID-19-related tax provisions. Read more here

Unemployment compensation: If you have already filed Form 1040 or 1040-SR for 2020, you may not need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. Depending on your clients situation though, filing an amended return may still be a consideration. The IRS stated they will begin recalculating returns starting in May. Read more here


For more info on tax law & news visit the Tax Pro Center

Key resources for you and your clients

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