What's New For The 2020 Tax Filing Season
Filing taxes last year was a nightmare not just for you but for us and the IRS too. This year might not be much better. Here’s why: first, the IRS is still working to issue guidance for the changes to the tax code they signed into law more than two years ago and second, Congress passed a series of tax breaks late in 2019 that will require the IRS and tax software providers to revise forms at the last minute. If you are interested in learning more about what’s happened since we last met, grab your coffee and read at your leisure. J Further Consolidated Appropriations Act In the last few weeks of 2019 Congress produced its most significant tax package of the year as part of the Further Consolidated Appropriations Act, 2020 (FCAA). The Act includes the revival of expired or expiring tax breaks mostly through 2020. Many of these tax breaks expired after 2017 but Congress retroactively extended them back to January 2018. This mea...