Stimulus & COVID-19 Tax Help & Information Center

Were you unemployed in 2020? These tax opportunities may help reduce your tax burden or increase your refund.

A sweeping new COVID-19 economic relief package was signed into law by President Biden on March 11, 2021.

Is the stimulus check taxable? Do you have to pay it back? All your questions about the recent EIP answered.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was created in response to the COVID-19 pandemic to provide aid, relief, and increased economic security to affected individuals. The Act provided specific aid and tax benefits for taxpayers who needed to withdraw more money than usual from their retirement and 401(k) plans during the pandemic.

The much-anticipated emergency COVID-19 economic relief package was signed into law on December 27, 2020, after leaders of both parties in the U.S. Congress, along with the White House, reached an agreement on several pro-taxpayer provisions of the omnibus package.

An emergency COVID-19 economic relief bill was signed into law on December 27, 2020. Here’s what taxpayers need to know about the new law.

Life changes like getting married or divorced, having or adopting children, and buying or selling a house have traditionally had an impact on your federal tax return. However, the 2020 tax season is unparalleled to any other tax year and will likely throw surprises at taxpayers who don’t plan ahead. It's important to be prepared so you're not  shocked by the result when you file your income taxes. 

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The IRS will be depositing the second round of stimulus checks for all Americans receiving Social Security, Railroad Retirement, and Veteran’s Administration benefits into the same accounts as their benefit payments. This is the same process used for the first stimulus payment.

Shutting down nonessential businesses may have been necessary to slow the coronavirus, but it’s nonetheless leaving staggering economic hardship in its wake. Recognizing the impending financial crisis, especially to small businesses, Congress passed two important bills to provide economic relief. The first was the CARES Act in March 2020. The second was the Paycheck Protection Program and Health Care Enhancement (PPPHCE) Act on April 21.

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With the Federal Government’s national recommendation to stay at home affecting businesses across the country, it may be time to file your taxes if you haven’t already done so. Remember, the majority of Americans filing taxes receive refunds, and additional funding during this time of uncertainty could provide you and your family with greater peace of mind.

The pandemic has left many people jobless, furloughed, and uncertain on where their next paycheck would come from. Unemployment benefits have been claimed at a record high, which has helped support those hit hardest during the pandemic. But what does this mean for these taxpayers? Anyone who received unemployment benefits will have to pay taxes on the benefits they received.