WBKB is here to help this tax season

ALPENA, Mich. – With tax preparers starting to formally file for their customers this week, many may have questions regarding pandemic related assistance and refunds.

WBKB is here to help and is answering your tax questions.

State tax experts say there are several important things to remember this tax season, including information about your stimulus payment.

“If you haven’t received stimulus round one or round 2, you will collect it as a rebate when you file your 2020 taxes,” said By The Numberz CPA   Nicole Kirkland. “So your tax preparer will need to know if you did not receive them, or they’ll need to know how much you did receive to determine if you’re owed money and it’ll come through as a rebate and be included in your tax refund.”

According to Kirkland the IRS is giving low income tax filers a break this year due to COVID–19 by allowing past information to be used for those who qualify for an earned income tax credit.

“So those filers would be affected because earned income determines what you would get,” said Kirkland. “So, by people having to go on unemployment, or their jobs closing due to the pandemic, their earned income would be a lot less than it was in 2019. So, what the IRS is allowing is that you can use your 2019 income to still qualify in 2020.”

Nicole recommends to avoid delays in getting your return have everything your tax preparer needs to file for you, including W–2’s, any other important information and tax forms from the state’s unemployment department.