ICYMI: Rep. Susie Lee Hosts Virtual Tax Workshop with Local Tax Experts
LAS VEGAS – Yesterday, U.S. Rep. Susie Lee (Nev.-03) hosted a virtual tax workshop to discuss and answer questions regarding this year's income tax returns. She was joined by a representative from the IRS as well as experts from local tax organizations.
Rep. Lee reminded constituents of the new tax filing deadline, which she fought to extend:
"With the hardships and so many financial concerns, one of the biggest issues that we've been confronting in the last few days is the deadline that was soon approaching on April 15. But I'm happy to report that the Treasury Department and Internal Revenue Service just recently announced that the federal income tax filing date has been extended from April 15 to May 17."
Rep. Lee discussed the economic impact payments and outlined the distribution process:
"So far, nearly 90 million Americans have received Economic Impact Payments, better known as their stimulus checks. These are rolling out in tranches of 10 million Americans and the first batch of payments were most recently sent via direct deposits, some of them receiving their first payments as early as March 12. They primarily went to eligible taxpayers who had already provided direct deposit information on their 2019 and 2020 returns. The use of these direct deposits to issue these payments means that they're being delivered so much faster than would otherwise have been possible.
"And while the majority are being delivered by direct deposit, there will be individuals who will be receiving these payments with payment checks and with debit cards that are being sent in the mail. More than 35 million people received their stimulus payment status through the "Get My Payment" tool on IRS.gov, which is updated on a regular basis as updated information is available. No action is needed by most taxpayers to receive your stimulus check."
Rep. Lee highlighted the tax waiver on unemployment income, which she fought to include in the American Rescue Plan:
"Many people who have been collecting unemployment due to the pandemic were shocked to learn their benefits were going to be considered as taxable income. And that's where we came in, in Washington. I, along with many of my colleagues, fought to include a waiver on the federal income taxes for the first $10,200 of unemployment insurance that was received in the year of 2020."