Tax Year 2020 Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/category/tax-year-2020/ Tax Preparers and Tax Consulting Wed, 26 Jan 2022 20:08:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://i0.wp.com/newsite.lincolntax.com/wp-content/uploads/2025/01/Web-Favicon.png?fit=32%2C32&ssl=1 Tax Year 2020 Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/category/tax-year-2020/ 32 32 241685655 2021 State Filing Deadlines Extended https://newsite.lincolntax.com/2021/03/22/2021-state-filing-deadlines-extended/ Mon, 22 Mar 2021 20:21:00 +0000 https://newsite.lincolntax.com/?p=42 As of March 22, 2021 these are the due dates for the following state returns.  Should dates change we’ll update this page.  When in doubt, always check your state’s webpage for taxation. Alabama – May 17 Alaska – No state income tax Arizona – May 17 pending  Arkansas – May 17 California – May 17

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]]> 42 The American Rescue Plan Act https://newsite.lincolntax.com/2021/03/12/the-american-rescue-plan-act/ Fri, 12 Mar 2021 20:20:00 +0000 https://newsite.lincolntax.com/?p=40 The post The American Rescue Plan Act appeared first on Lincoln Tax Professionals.

]]> 40 Maryland RELIEF Act https://newsite.lincolntax.com/2021/03/04/maryland-relief-act/ Thu, 04 Mar 2021 20:17:00 +0000 https://newsite.lincolntax.com/?p=36 The RELIEF Act of 2021 is an emergency economic impact and tax relief package that will provide more than $1 billion for Maryland working families, small businesses, and those who have lost their jobs as a result of the COVID-19 pandemic. RELIEF Act Economic Impact Payments The RELIEF Act includes direct economic impact payments for low to moderate income Maryland taxpayers

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]]> 36 Updates for Individuals https://newsite.lincolntax.com/2021/03/04/updates-for-individuals/ Thu, 04 Mar 2021 20:16:00 +0000 https://newsite.lincolntax.com/?p=34 COVID-19 Relief Law Boosts Temporary Tax Deductions and Credits Embedded in the COVID-19 relief law is $900 billion for financial assistance. As you would expect in these unusual times, some of the relief is in the form of direct government financial assistance and some is from tax benefits that can impact both tax year 2020

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]]> 34 Business Updates https://newsite.lincolntax.com/2021/03/04/business-updates/ Thu, 04 Mar 2021 20:15:00 +0000 https://newsite.lincolntax.com/?p=32 Who Qualifies for First-Draw PPP Money Today? Two things to know about the Paycheck Protection Program (PPP) first draw enacted on December 27, 2020:  The first draw is for those who missed getting in on the original PPP, which expired on August 8, 2020. Don’t think of a PPP draw as a loan. It’s not

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]]> 32 Economic Stimulus Payments, Round 2 https://newsite.lincolntax.com/2021/01/26/economic-stimulus-payments-round-2/ Tue, 26 Jan 2021 20:11:00 +0000 https://newsite.lincolntax.com/?p=30 At the end of 2020, the new $900 billion coronavirus relief package became law. This relief expanded the existing “Economic Impact Payment” program with an additional $600 stimulus payment to taxpayers provided that they had previously filed a 2019 tax return. Unlike the first economic impact payment released in April of 2020 where the IRS

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]]> 30 New Client Portal Has Arrived https://newsite.lincolntax.com/2020/11/17/new-client-portal-has-arrived/ Tue, 17 Nov 2020 20:09:00 +0000 https://newsite.lincolntax.com/?p=28 We are super excited to be rolling out a brand new client portal system this month to replace our current client portal. Our new portal system is from a company called Canopy, and just like our current portal, it will be the most secure gateway for you to send us important documents and for us to send

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]]> 28 Virtual Tax Year 2020 https://newsite.lincolntax.com/2020/10/28/virtual-tax-year-2020/ Wed, 28 Oct 2020 20:19:00 +0000 https://newsite.lincolntax.com/?p=38 Hi Friends, what a crazy year it’s been! In January 2020, I thought my largest challenge would be running the practice my mother founded, with her now in retirement. Turns out I was wrong. I could not have predicted the challenges that have faced us all. While we met with many of you in person

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