OMAHA, Neb. (KMTV) — Erin Anderson co-owns Omaha-based Tax Help LLC. She’s already seen a rush of clients getting their taxes ready for the IRS.
"My calendar has actually been pretty busy today," Anderson said.
Anderson said this year we can expect things to go back to how they were before COVID-19, a move that could throw some off guard.
“It's going to be a surprise," she said. "They were getting a lot of money during the year and then because those credits had increased their refunds also potentially increased."
Anderson said the credits are reverting back to a lower threshold at the federal level.
For example, child tax credits went up to as high as $3,600 per child during the pandemic, now that’s back down to $2,000 in credits.
Some of the more interesting changes were at the state level. Anderson said there are some huge benefits involving social security and military families tax filers will want to know about.
“Military retirement for most military is now excluded from income," she said. "That’s a huge benefit for people in Nebraska. Social security is now excluding 40% of the taxable component of social security from Nebraska, that will phase up to 100% by the year 2025.”
Anderson also says filers should know about the property tax credit in Nebraska.
The IRS is accepting returns starting Monday until April 18.
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