The Treasury Department and IRS announced the federal income tax filing deadline for the 2020 tax year for individuals is extended to May 17, 2021.
The Internal Revenue Service (IRS) has a dedicated site with information for businesses affected by the coronavirus pandemic.
- IRS Resource of Coronavirus Tax Relief and Economic Impact Payments: Coronavirus Tax Relief and Economic Impact Payments | Internal Revenue Service (irs.gov)
- IRS Resource for Businesses and Tax-Exempt Entities: Coronavirus Tax Relief for Businesses and Tax-Exempt Entities | Internal Revenue Service (irs.gov)
- To read more on Sick and Family Leave, click here: New Employer Tax Credits | Internal Revenue Service (irs.gov)
- To read more on the Employee Retention Credit, click here: Employee Retention Credit | Internal Revenue Service (irs.gov)
- For more information on the Child Tax Credit, click here: Advance Child Tax Credit Payments in 2021 | IRS
- To stay up-to-date with the State of Wisconsin’s Department of Revenue COVID-19 information and announcements, click here: COVID-19 Information and Announcements
Starting February 12, 2021, according to the statute, those who didn’t receive an EIP or received an amount less than they are entitled to can claim or reconcile the new Recovery Rebate Credit when they file their 2020 Form 1040. We urge people eligible for the Recovery Rebate Credit to file electronically in 2021 so they can get their payment as quickly as possible.
Economic Impact Payments- The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 provided direct payments of up to $600 for individuals ($1,200 for married couples) and additional $600 for a dependent child under the age of 17. Income eligibility for full payment is $75,000 per individual and $150,000 for married couples.
- To check on status of stimulus payments: Get My Payment | Internal Revenue Service (irs.gov) or Call the Economic Impact Payment number at 800-919-9835
- The Senate Finance Committee has a detailed FAQ page, which you can read here.