2021 Can I deduct any work-from-home expenses?
Nope — not unless you’re self-employed. The Tax Cuts and Jobs Act suspended tax write-offs for home office deductions through 2025. Note that this could change next year if Congress opts to deliver more tax relief in future COVID-19 relief legislation.
You can find more details about all of these tax changes on the IRS website, and CNET’s Personal Finance team has prepared a wealth of tax resources, including a series of articles covering the 2020 tax season from every angle.
When possible, it’s best to prepare your taxes as early as possible. Delaying the inevitable can cause you stress — and it also gives fraudsters more time to scam and trick tax filers out of their personal information or refunds. Technically, you can start filing as soon as you receive your W-2s from your employer. This usually happens around the end of January, but varies depending on your employer.
Once you’ve gathered the necessary documents, you’re nearly set to file. And the sooner you file, the sooner you get your refund. Also, keep in mind that you will usually receive a refund more quickly if you set up direct deposit. Don’t waste time — file as soon as you can so you can join millions of other Americans who are expecting a return.