The Ins & Outs of the 2020 & 2021 Tax Breaks for Families with Zero-$150,000 Annual Income

The federal response to the crisis created by the Covid-19 pandemic resulted in the largest outlay of direct payments and other tax relief from the IRS and the Massachusetts DOR. Using plain language, the presenters focus on the rebate credits, the enhanced child tax credit, the nontaxability of certain unemployment payments, and the changes to the Earned Income Credit to maximize its benefits, as enacted in the CARES Act, the Consolidated Appropriations Act, and the American Rescue Plan Act.

You do not need specialized tax law knowledge to master these provisions and identify eligible families among your clients. Despite aggressive outreach, many families have been left out or have received only partial relief.