We are in tough times! The pandemic is in it’s second year and the March 13, 2020 disaster declaration is still in effect. The American Rescue Plan Act of 2021 signed into law on March 11, 2021 is the 5th major piece of COVID-19 relief enacted since mid-March 2020. The tax changes in these laws are numerous and complex in terms of new definitions, special rules, confusing interaction with other rules, and more.
The IRS could not even open the 2021 filing season until February 12 – later than usual. The IRS is still processing paper filed 2019 returns.