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April 6, 2021

Unemployment Benefits & Filing Deadline Updates
Message from National

As discussed in the April 1, 2021, edition of the TAXPRO Weekly, the IRS will determine the correct taxable amount of unemployment compensation and tax for taxpayers who have already filed and figured their tax based on the full amount of unemployment compensation. Any resulting overpayment of tax will be either refunded or applied to other outstanding taxes owed.

The IRS also issued Notice 2021-21, which postpones the following additional tax deadlines until May 17:

  • Contributing to an IRA, HSA, Archer MSA and Coverdell ESA
  • Filing a 2017 tax return to claim a refund
  • Filing a Form 1040-NR for foreign trusts and estates with federal income tax filing or payment obligations
  • Participating in the 2021 Annual Filing Season Program (AFSP) by signing the Circular 230 consent

As a reminder, taxpayers will need to file state tax returns by April 15, 2021, in 42 states as well as the District of Columbia. State updates can be found through their respective state tax agencies.

Alabama

We hope you have saved the date for the Spring Fling on May 2-5, 2021, at the Orange Beach Hampton Inn! Instructor Kathryn Keane will present topics including schedules C & E, due diligence and the CARES Act. Visit our chapter education page for registration information.

Arizona

Save the dates! We are in the planning stages for the following in-person and webinar education events:

  • Aug. 11-13 – In-person Annual Conference (Phoenix Metro Area)
  • Oct. 26 – Webinar and Annual Meeting
  • Dec. 2 – In-person Tax Updates (East Valley) in English only
  • Dec. 3 – In-person Tax Updates (Phoenix) in English and Spanish
  • Dec. 6 – In-person Tax Updates (Tucson) in English only

Like us on Facebook and check out our website.

Colorado

Quick reminder to save the date of Thursday, June 3, 2021, for a virtual gathering of the Colorado NATP chapter. This will be a social event for members to chat, debrief and share. We hope you’re having a great tax season, and we look forward to catching up with you!

Florida

Plans are progressing for our Annual Meeting and Conference in Daytona Beach Shores in June. See details in our latest newsletter. Our Facebook group is seeing increased activity. Why don't you join us?

New Jersey

Are we having fun yet? NJ homestead benefits are now being sent to the township tax collectors offices for credit on May 2021 taxes. The emergency COVID-related aid, granted to students on financial aid, is not taxable. Also, as of March 26, 2021, PPE is now deductible as a medical expense subject to the federal 7.5% of AGI. We do not have confirmation from NJ yet if they will also allow this as a medical expense. Stay tuned!

New York

Check out the March edition of our newsletter for FAQs about NYS tax issues, and for a chance to win a free National Conference registration. As of the sending of the newsletter, there has been no official word from NYS regarding unemployment; we will alert you as soon as we have an update.

Texas

Deadline approaching! The block of rooms for the Galveston events will expire April 9, 2021. Call the Holiday Inn on the Beach today at 409-740-5300 to take advantage of the special pricing. Both events still have openings, so make sure you get registered.

Our latest newsletter is available and has detailed information on upcoming events, our annual scholarship (deadline May 31, 2021), current board of directors and president's letter. Don’t miss out!

The March 5, 2021, First Friday meeting minutes are available. Email us at texasnatp@gmail.com if you have any issues you would like addressed in the next meeting, which will be held on April 9, 2021.

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