The New Filing Deadline is May 17th, and Other News For 2020 and Beyond

As of the week, the IRS and California have moved the tax filing deadline to May 17th. This will only affect the filing deadline for federal returns at this point, not state returns. We also have a new $1.9 Trillion Stimulus Bill which includes several tax law changes:

  1. Non taxable unemployment income up to $10,200 per individual, with households having less than $150,000 Adjusted Gross Income

  2. New $1400 stimulus payments arriving soon

  3. Extension of federal unemployment benefits of $300 per week through September

  4. $350 Billion to states and local governments to reopen schools

Much more was included in this $1.9 Trillion Stimulus Bill. For more information visit https://www.wsj.com/articles/whats-new-in-the-third-covid-19-stimulus-bill-11615285802

Robert Martin