Taxpayers, and related tax professionals, face two major problems this post-tax season: IRS refund adjustments and estimated tax payments for the 2022 tax season.
The IRS is currently recalculating unemployment benefit taxes for 2020 based on the most recent tax law passed during the 2021 tax season. Tax professionals should confirm that these recalculations were performed correctly for their clients. In some cases, an amended statement must be filed if a customer originally did not apply for earned income or other credits but is now eligible. This webinar will discuss these cases and the steps the tax professional must take.
Additionally, paying estimated tax payments throughout the year prior to filing their tax return can help taxpayers reduce the end-of-season shock some face when they find they owe a significant amount of money (and avoid penalties and interest ). Many taxpayers can benefit from this if their income is drastically different from previous years, especially due to the financial impact of COVID-19.
To help tax professionals with this post-tax season information, the National Association of Tax Professionals (NATP) is running two completely free webinars detailing these topics and helping tax professionals what they can and should do now to help their clients.
“We know that a tax professional’s job isn’t done immediately after Tax Day, which is why NATP is committed to providing year-round training on current topics that tax professionals need to understand in order to serve their clients with excellence,” said Rhonda Collins, EA, CPA, NATP Director of Tax Content and Government Relations.
To learn more and to register, visit natptax.com/help. These webinars are available to anyone interested, not just NATP members.