2021 Taxes Legal Updates

How Biden’s Student Loan Forgiveness Plan Affects Your Taxes

August 30, 2022. You won't owe federal taxes on student loans that the government cancels in 2021 through 2025. But forgiven student loan debt could be taxable in a few states.

New Tax Law Extends the Expanded Obamacare Premium Tax Credit Through 2025

August 16, 2022. The Inflation Reduction Act extends the temporary exception to the 400% of federal poverty level cap for premium tax credits through 2025.

Deducting Your State Income Taxes with a Pass-Through Entity

June 23, 2022. Many states have adopted an optional pass-through entity (PTE) tax that effectively enables some business owners to deduct state income tax on their business income without limit.

IRS Delays Start of 2020 Tax Filing Season

February 12, 2021. To help process economic impact payments, the filing start date is delayed by two weeks to February 12.