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March 1, 2021
Posted by General Electric Credit Union
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7 Fast Facts About Filing Your 2020 Taxes

Updates as of 3.26.2021

On March 24th, Ohio Tax Commissioner Jeff McClain announced Ohio is extending the state tax filing deadline from April 15th to May 17th.
On March 17th, the IRS announced the deadline to file federal taxes will be automatically extended from April 15th to May 17th.
On March 11th, President Joe Biden’s $1.9 trillion coronavirus relief package was signed into law. Included in the plan was a tax break for unemployed workers. For individuals earning under $150,000 a year, the law waives federal income taxes on up to $10,200 in unemployment income received in 2020. In states where unemployment benefits are taxed – such as Ohio – it is not yet confirmed if state taxes will also be waived. If you received unemployment benefits in 2020 and already filed your taxes, the IRS has urged taxpayers not to file amended returns at this time. The IRS plans to provide additional guidance in the future. Refer to the IRS News page for the most up to date information.

Still need to file your taxes for 2020? Be sure to review these seven fast facts before diving into TurboTax® Online (Pssst ... you can save up to $15 on TurboTax federal products!).

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