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Americans will be getting extra time to prepare their taxes. The Internal Revenue Service says it s delaying the traditional tax filing deadline from April 15 until May 17. The IRS announced the decision Wednesday and said it would provide further guidance in the coming days. The move provides more breathing room for taxpayers and the IRS alike to cope with changes brought on by the pandemic. The IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities, IRS Commissioner Chuck Rettig said in a statement. ....
Taxes 2020: Do home office purchases qualify for deductions? WLS Share: CHICAGO (WLS) If you re working from home because of the pandemic, you may have had to buy items to create a home office. From desks and chairs, to printers and ink, many people have been hoping home office items would qualify for a tax deduction. But tax expert Chad Elkins says for many people, that will not be possible. Unfortunately, tax reform from a couple of years go eliminated this as a possibility, Elkins said. So now, the only way you can write off home office expenses such as a computer, a printer, internet and things like that, is if you re self-employed.I do think that after this tax season, it s going to be re-evaluated and if we re still mainly working from home in 2022, which is a possibility, I do think that they re going to have to allow some deductions for this. ....
That s why 7 On Your Side has a special checklist to avoid getting conned. Two factors are making it easier for criminals to gain access: First, many of us are working on home computers or laptops which don t have the firewalls and protection of being in the office. Because we are working remotely, we aren t seeing our coworkers in HR or IT by the watercooler to chat or check up on that tax email sent to employees which in many cases didn t come from the company at all. That s exactly what happened to a local business in Northvale, New Jersey. An email received around this time of year appeared to be from Human Resources, stating everyone s W-2 had to be updated by orders of the boss, instructing employees to fill out attached forms and reply. ....
That s why 7 On Your Side has a special checklist to avoid getting conned. Two factors are making it easier for criminals to gain access: First, many of us are working on home computers or laptops which don t have the firewalls and protection of being in the office. Because we are working remotely, we aren t seeing our coworkers in HR or IT by the watercooler to chat or check up on that tax email sent to employees which in many cases didn t come from the company at all. That s exactly what happened to a local business in Northvale, New Jersey. An email received around this time of year appeared to be from Human Resources, stating everyone s W-2 had to be updated by orders of the boss, instructing employees to fill out attached forms and reply. ....