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*Check the status of your stimulus payment here

​IRS extends additional tax deadlines for individuals to May 17

• Time to make contributions to IRAs and health savings accounts extended to May 17- In extending the deadline to file Form 1040 series returns to May 17, the IRS is automatically postponing to the same date the time for individuals to make 2020 contributions to their individual retirement arrangements 
• 2017 unclaimed refunds – deadline extended to May 17- For tax year 2017 Federal income tax returns, the normal April 15 deadline to claim a refund has also been extended to May 17, 2021. The law provides a three-year window of opportunity to claim a refund. 
• 2021 AFSP deadline postponed to May 17- Tax preparers interested in voluntarily participating in the Annual Filing Season Program (AFSP) for calendar-year 2021 now have until May 17, 2021 to file their application with the Internal Revenue Service.
• ​Estimated tax payment due April 15- deadline for estimated tax payments; these payments are still due on April 15. Taxes must be paid as taxpayers earn or receive income during the year, either through withholding or estimated tax payments. 

News Article (As of 03/29/2021)

​State Tax Deadline for Individuals Postponed until May 17, 2021

• The Franchise Tax Board (FTB) today announced that, consistent with the Internal Revenue Service, it has postponed the state tax filing and payment deadline for individual taxpayers to May 17, 2021.
• This postponement applies to individual filers whose 2020 tax returns and payments were originally due on April 15, 2021.
• FTB will waive any interest and late payment penalties that would otherwise apply if the returns are filed and the payments are made by May 17.
• Taxpayers do not need to claim any special treatment or call FTB to qualify for this postponement.

News Article (As of 03/19/2021)

New IRS form available for self-employed individuals

• The Internal Revenue Service announced today that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA).
• Eligible self-employed individuals must: (1) Conduct a trade or business that qualifies as self-employment income, and      (2)  Be eligible to receive qualified sick or family leave wages under the Emergency Paid Sick Leave Act or Emergency Family and Medical Leave Expansion Act as if the taxpayer was an employee. 
• Taxpayers must maintain appropriate documentation establishing their eligibility for the credits as an eligible self-employed individual.

News Article (As of 02/08/2021)

Second Stimulus package 

• The amounts will be based on 2019 incomes. Those who filed their 2019 tax returns will receive their money automatically
• As well as Social Security recipients 
• And those who uploaded their bank account information using the IRS's online portal to receive their first payments.
• Undocumented immigrants who don't have Social Security numbers remain ineligible for the payments. But in a change from the first round, their spouses and children are now eligible as long as they have Social Security numbers.
• Eligible families will receive an additional $600 per child -- which is $100 more than Congress gave families in the first round of relief last spring.

News Article (As of 12/28/2020)


IRS Stimulus bill - individuals (direct payments as early as April 6) **Update your info with IRS by 5/13 to get a direct deposit payment 

• Individuals making up to $75k annually would be eligible for $1,200 (this is phased out at $99k annual income)
• Married filing joint couples making up to $150k annually would be eligible for $2,400 (this is phased out at $198k annual income)
• An additional $500 per child under 17 added to the above (unclear if there's a limit on # of kids)
• Income levels would be based on 2018 tax returns or 2019 tax returns, if already filed
• The Treasury is planning to develop a web-based portal that will allow people to provide their banking information to the IRS
• This is NOT setup yet and is planned to launch is the coming weeks 
• The IRS set up a website for Non-Filers to enter their information to get their Stimulus check 
• The IRS will begin sending out stimulus payments on Debit Cards 

Non-Filers: Enter Payment Info Here
Economic Impact Payments: Useful Information
News article (as of 4/02/20)

EDD Unemployment claims for individuals affected**Enhanced benefits end 07/31/20

• Employees can file Unemployment Insurance claims for reduced hours or shut down operations
• Employees who are sick or quarantined due to COVID-19 may file for disability
• Employees who are unable to work because they are caring for an ill or quarantined family member with COVID-19 can file for paid Family Leave
• Employers experiencing a slowdown in their businesses or services as a result of the Coronavirus impact on the economy may apply for UI Work Sharing Program
• Employers cannot require an employee who is quarantined to exhaust paid sick leave
• If an employee has a child whose school or day care closes for reasons related to COVID-19 they may be eligible for up to 40 hours of leave
• Unemployment benefits will include a 4 month increase of benefits - an additional $600 per week on top of what unemployment already pays you.
• California will implement the $600 a week unemployment increase starting Sunday 4/12 as announced by Governor Newsom on Thursday 4/09
• This program was expanded to cover freelancers, furloughed employees, and gig workers such as Uber drivers.

News Article (as of 04/09/20)
EDD Support Services

FMLA (Family and Medical Leave Act) Expansion:

• Employees of covered employers can take unpaid, job protected leave for specified family and medical reasons 
• Rates of pay will be determined by the reason for leave​

Families First COVID-19 Response Act

Department of Education - Federal Student Loan Relief

• ​You may be able to defer monthly payments or change to a different repayment plan to lower your monthly payment 

Information for Students, Borrowers, and Parents 

Home Office Deduction - Used exclusively and regularly as main place of business

• Term "home" includes a house, apartment, condominium, mobile home, or boat
• To claim the deduction, a taxpayer must use part of their home for one of the following reasons:

o   Exclusively and regularly as a place clients or customer are met in the normal course of business
o   As a separate structure that’s not attached to a home
o   Used on a regular basis to store inventory, or product samples
o   For rental use
o   As a daycare facility

• Qualified expenses include portions of real estate taxes, mortgage interest, rent casualty losses, utilities, insurance, depreciation, maintenance, and repairs
• Non-qualified expenses include lawn care, painting a room not used for business ect.

IRS Article (as of 09-23-20)