LANSING, Mich (WLNS) This year tax filing is two weeks late, the IRS says it needed extra time for system programming and for everyone who qualified to get their second stimulus payment.
Those who did get stimulus payments will be receiving a “Notice 1444” and tax experts say you do need to keep records of how much you received and when.
“You need to keep records of what you actually received in stimulus payments, both in the first and the second round, and if you if you got the right amount,” said Nathen Rigney from H&R Block.
Those who own a small business and received grants should be aware that those grants could be taxable said Rigney, “If they did get a grant from the state, it’s important to know they will get a form 1099.”
If you received unemployment benefits, remember, federal taxes are not automatically taken out of those benefits. Be sure to double-check you marked the correct box.
If you happened to turn your living room into a workspace and purchased new office supplies, those do not count as a write-off if you’re employed.
“If they’re self-employed and working from home they can claim some expenses. For all of those who are employees receiving a W-2, we can’t deduct that on our federal return. There is no deduction anymore for home office expenses for employees,” said Rigney.
For those who did not get a stimulus payment and are entitled to one, or received less payment, you can file a recovery rebate credit for the difference.
The IRS does encourage people to file electronically, saying most who do will receive their returns within 21 days of filing. It even offers a free electronic tax filer, “Free Files Parenters Tax Service.”