Filing your 2020 taxes is complicated due to COVID-19. Here’s what you should know
Two stimulus payments, a delayed filing deadline and unprecedented unemployment numbers have led to a complicated tax season for Georgians.
Warner Robins-based CPA Todd D. Giddens noted that the IRS is still working to process tax returns filed last year because of backlogs primarily caused by the COVID-19 pandemic. He added the IRS recommends people file their tax online for speedier processing.
The two rounds of stimulus payments in 2020 could also have an impact on the taxes filed this year. Parents who had a child in 2020 could receive a stimulus payment for their new dependent as part of their tax return.
Additionally, folks who were eligible for stimulus checks last year who did not receive them can “recover” that money by completing an IRS worksheet. The IRS recovery rebate credit worksheet helps taxpayers determine the amount of stimulus money they could recover with their 2020 tax return, but filers need to know the exact amount of money they received from either one or both of the payments.
“We encourage everyone to go complete that IRS recovery rebate credit worksheet,” Giddens said. “If you don’t think you received all the stimulus money you should have, complete the IRS worksheet to see if you can obtain the money on your 2020 return.”
Georgia considers unemployment compensation as taxable income, and Georgians need to report that income to the IRS using a 1099-G form, which should have been sent to people who received unemployment benefits.
Georgians will not have to pay federal or state income taxes on the stimulus money. Although the tax filing deadline was extended last year, this year’s deadline remains April 15.
Tax preparation help in Macon, Warner Robins
The United Way of Central Georgia will provide free tax filing services for folks in moderate-to-low income brackets at three tax preparation sites: Centenary United Methodist Church (1185 Ash St, Macon, GA 31201).
The United Way of Central Georgia will provide free tax filing services for moderate-to-low incomes at three tax preparation sites: Centenary United Methodist Church, the Family Investment Center in Macon (905 Main St.) and the GA VECTR Center in Warner Robins (1001 S. Armed Forces Blvd.).
“We are trying to get this out to the community and help as many people as we can. Especially those who don’t know that much about the resource,” said George McCanless, President & CEO of United Way of Central Georgia.
The program is part of a partnership with the IRS called the Volunteer Income Tax Assistance (VITA), and with the help of IRS trained and certified volunteers, working families will have the insight and help to claim important tax credits.
“VITA helps clients claim all the tax credits due them and saves them money on tax prep fees, all the while increasing the probability of an accurate return. A study a few years ago showed that the unclaimed EITC in Bibb County alone was in the millions. That is money these families desperately need, and money that almost 100% of which is invested back into the local economy,” McCanless said.
According to the press release, there is no age requirement for the free service and no income requirement for those over the age of 65. However, Individuals must make an appointment for service, walk-in service will not be available as an extra safety precaution to meet social distancing guidelines.
To make an appointment, call 478-254-1483 for Centenary, 478-752-5185 for the Family Investment Center, and 478-218-3900 for the VECTR Center. The sites are open through April 15.
AARP is also providing free income tax return preparation for low to middle-income individuals at the Buck Melton Community Center (150 Sessions Drive in Macon) on Mondays, Wednesdays and Thursdays from 9 a.m. to noon through April 15.
People need to make an appointment and bring their Social Security card, a photo I.D., all income statements and a copy of their 2019 return. Married folks must have a copy of their spouse’s Social Security card and photo ID. To make an appointment, call 478-703-8915.
This story was originally published March 12, 2021 at 5:00 AM.