EUGENE, Ore.— Accountants in our area are already preparing for a busy tax season, especially because of the COVID-19 pandemic.
In 2020, millions of Americas have lost their jobs due to the pandemic and are relying on unemployment benefits to pay their bills.
If people are in that situation, Eugene accountant Keith Winnick said they should be extra careful when they file their returns.
He said if they have extra wages or interests on top of their unemployment checks, people could owe more money in taxes later on.
"It depends on if you don't have money withheld from those withdrawals, or your under 59 years old,” said Winnick. “There's a lot of pitfalls out there, every situation is unique."
However, he said he’s encouraging people to start preparing now.
He said they should get in touch with their tax preparer as early as possible to get an idea of what their tax liabilities is before filing.