Working from Home and Your 2020 IRS Taxes


Since the Covid-19 lockdown this past Spring, working from home is now a way of life for 40% of American employees. Working from home means higher electricity and internet bills. Will that change the way you prepare your 2020 tax return? Doug Hord of My Tax Guy in Houston says, "For the employed people - people who have taxes taken out of their paychecks --- nothing is going to happen to their taxes, either."

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What about employers? "There is no change for employers, either. If they wanted to they could pay their 'W-2ed' employees some compensation for their extra expenses." Hord says under current (2020) rules, employers can take those payments as business deductions, but employees can't.

Hord suggests they alert their U.S. Senators and Representatives of their situation.

photo: Getty

Smiling female entrepreneur using laptop while talking through smart phone at home office

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