AARP demystifies a tax season like none other
WAUSAU, Wis. (WSAW) - For many taxpayers, this is likely to be the most complicated tax season they’ve faced – a tax season like none other, since the personal income tax was established in 1913.
Taxpayers are unclear if their economic stimulus payments are taxable (they’re not), and some are concerned they missed a stimulus payment that was due them (tax time is a good time to claim it).
Older Americans in particular may be struggling this year. Because of COVID, some have lost jobs and face taxes on their unemployment income. Recent widows or widowers may be managing finances on their own for the first time.
The bottom line: COVID has disrupted people’s lives and finances, leaving them with questions and confusion. On Monday, Margi Mannix, the digital editor in chief for AARP joined NewsChannel 7 at 4 to help demystify this tax season. Click on the video above to hear her tips and advice.
Copyright 2021 WSAW. All rights reserved.