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Voices 2020: The year of the amended tax return Source: accountingtoday.com - Feb 17, 2020 The Further Consolidated Appropriations Act, enacted on Dec. 20, 2019, included a number of tax changes with retroactive impact, requiring taxpayers and their advisors to consider filing amended 2018 tax returns. These include 28 regularly expiring tax breaks that had expired at the end of 2017 and have been retroactively extended. A package of disaster relief provisions was also enacted that have application to disasters back to 2018. A couple of technical corrections to the Tax Cuts and Jobs Act also relate back to 2018. Also, a provision in the SECURE Act gives taxpayers an election to revise the treatment of the changes to the Kiddie Tax retroactively for 2018. Category: General Business |
