rachelh@myweeklysentinel.com
CANTON — COVID-19 has somewhat changed how people will file their taxes this year.
Starting off the 2020 tax returns, the IRS recently announced they will not be accepting any income taxes until Friday, Feb. 12.
Though the filing date has changed, the deadline remains the same for now, at Thursday, April 15.
“Most of the forms have been finalized and most tax preparation software has been updated, so returns can be prepared, just not e-filed yet,” said Gary Gleckner, of Gleckner’s, Ltd.
Some people are still waiting on their second stimulus check for $600. Gleckner says that can also be claimed on your 2020 incomes taxes this year.
“Another new element is the Recovery Rebate Credit for those who did not receive the correct amount of
Economic Impact Payments (stimulus payments). And, there is a coronavirus related exception to the 10% penalty for early withdrawals from certain retirement plans,” he said.
As part of the CARES Act, you can deduct up to $300 of charitable contributions on your 2020 tax return even if you take the standard deduction.
He also mentioned there is credit for sick and family leave for certain self-employed individuals.
“Two pieces of advice I have is to FILE ELECTRONICALLY and pay a professional - you’ll avoid 99% of issues that way and you’ll have help if there is an issue,” said Gleckner.
When filing your taxes online through TurboTax or Taxslayer, you might not be able to file your local earned income taxes. These companies are typically either Berkheimer or Keystone.
“Many states do not have a local earned income tax. Therefore, software companies such as TurboTax do not spend time/money developing local tax functionality. A person who electronically files their state and federal tax returns using TurboTax or similar will need to file their local earned income tax return separately,” said Gleckner. “This can be done with a paper return by mail or electronically on the Keystone (or Berkehimer or wherever) website. One would need to know which tax collection agency covers their local municipality. Some use Keystone, some use Berkheimer, some use Municipal and School Tax Office in Williamsport, some use Jordan Tax Services, etc. I totally understand how people neglect to file this silly return.
Gleckner’s Tax Preparation is located on Troy Street in Canton. They will only be taking a limited number of new clients this year.