What you need to know about student loans, working from home and municipal taxes
FLINT, Michigan (WJRT) – (05/02/21) – IRS expects over 150 million tax returns to be filed this year, but filing those returns will be a little different from previous years , thanks to a new tax provisions due to the coronavirus pandemic.
Cassandra Alexander Lathan has spent the past two decades preparing income tax returns for residents of Genesee County.
This year – Alexander Lathan says clients are asking about things like student loans: “So there isn’t much that has changed about it, other than the fact that even if they get it, the unemployment, or even if they were still working, they were still able to obtain the forbearance due to dependents. “
What about the write-off of interest and payments?
“Unfortunately for those who chose to abstain and pay nothing for 2020, they will not have this deduction this year. But for those who have still paid until then, and I have the time to fend for myself throughout this period, they will still be able to take advantage of this deduction this year, ”she said.
Millions of people worked from home for most of 2020.
Can you undo something?
“You used to claim maybe some of your internet credit because you were using law for work half the time, or maybe the space or home space we use for work. You have to claim the credit for it. You have to make a claim like a consumer credit, maybe you were shopping and shopping with your vehicle, it was all removed as 2018 tax year.
What about tourist taxes?
Do you still have to pay if you work from home?
“If you’ve worked from home and you’re in Grand Blanc, then no, because you work all year round, but for part of the year, maybe you work to walk in Flint town. , then it will be prorated, ”Alexander Lathan said.
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