IRS Changes Important Tax Information

Many of you may have already filed their tax returns for 20-20.

In fact, tax experts tell us...two thirds of the country has filed their returns.

But that isn't stopping the i-r-s from changing some important tax laws.

That leaves many wondering what will happen with their money?

News 10's tucker white spoke with a local tax expert.

He's here to tell us what has changed.

The i-r-s has made some big changes recently that could help "you" out.

But there's a snag!

The indiana general assembly has to approve those changes before they officially go into effect.

And lawmakers aren't scheduled to meet until "after" taxes are due.

[take pkg outcue: sort this out.

Duration:1:16] just this week, the i-r-s changed the due date for federal taxes, and how much unemployment individuals will be taxed.

Now, federal taxes aren't due until may 17th.

People won't be taxed on the first 10-thousand dollars of unemployment they received.

Tax officials tell me these changes were made to give taxpayers a break.

But all states needs to approve the changes first.

The indiana general assembly will not meet until after the current tax due date has passed.

"we don't have any guidance yet.

And indiana is in the same boat.

They will not meet until april 29th in the general assembly.

So we don't know if they're going to conform to any of the changes."

Another uncertainty is what will happen to those who have already filed this years taxes..

That is, if indiana allows the first 10,000 dollars of unemployment to be tax free.

Tax experts are hoping that the state will give them guidance before tax season is over.

"if they do not conform to the irs' law that they passed, there's going to be a lot of amended returns and a lot of letters going out.

We need to get our leaders together and they need to call and emergency session to sort this out."

Tax experts this out."

Tax experts want to remind you that they will do everything they can to help you.

But, when it comes to what laws are changing, they are learning with the public.

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