UPDATE: Tax Filing Deadlines
Dear Member, Your financial well-being is important to us, and with all the recent tax related changes, we are here to help.
Tax Deadline Extension: The first big change is that the IRS has extended the federal tax filing deadline for the 2020 tax year to May 17, 2021 for most everyone. While you now have more time to file, the sooner you do it, the sooner you will get your refund! And we know money in your pocket is more important now than ever.
Here is what you need to know about the tax filing deadline extension:
*The May 17th filing extension applies to most everyone, no need to do anything, just file by May 17th. Residents of Texas, Oklahoma, and Louisiana have until June 15th to file their federal return.
*The filing extension will not affect when you receive your refund. The IRS will continue to work to process refunds as normal. If you haven’t filed yet, you are encouraged to file now.
Unemployment Tax Break: Another change is that the American Rescue Plan provides a tax break for the first $10,200 of unemployment income received in tax year 2020.
*If you’ve already filed your tax returns and had unemployment income, the IRS is saying that you don’t have to file an amended return, they will automatically recalculate your return and send you any refund that you are due.
*For those who haven’t filed yet, the tax software at the online tax preparers, including TurboTax, has been updated to guide you on to how to claim the tax break.
When you are ready to file your taxes, TurboTax® has you covered. And when you need help, real experts are standing by—and can even do your taxes for you. PLUS, as a credit union member you can save up to $15 on TurboTax. Click here to get started today!
Click here to start today!
Getting your biggest possible tax refund has never been easier. From simple to complex taxes, TurboTax® has you covered.
*Taxes made easy. Just answer questions about your year, anytime and from any device, and TurboTax fills in all the right forms for you.
*Real experts standing by. With TurboTax Live, get unlimited advice from tax experts as you do your taxes — or have everything done for you, start to finish.
*Done right, guaranteed. TurboTax guarantees 100% accurate calculations, so you can be confident your taxes are done right.
Mountain Laurel FCU works with TurboTax to provide special savings for our valued members — get up to $15 off TurboTax federal products. Start today!
Visit http://turbotax.intuit.com/lp/yoy/guarantees.jsp for TurboTax product guarantees and other important information. Limited time offer for TurboTax 2020. Discount applies to TurboTax federal products only. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice. Intuit, TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries.