What’s new this year?
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Text, Lisa Greene-Lewis, C PA, Turbo Tax Expert.

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LISA GREENE-LEWIS: Hi. I want to share some key tax law changes that you need to know for this tax season. The first thing you need to know is provisions under the American Rescue Plan are either reverting or going away. So, for instance, the child tax credit was $3,600. That's reverting back to $2,000.

There's also a lot of talk about 1099-K.

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Changes to form 10 99-K reporting amounts delayed.

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There was a delay announced by the IRS to delay the reporting requirement of over $600. So you will not receive a form 1099-K unless you have over 200 transactions and over $20,000.

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