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5 Sneaky Things COVID-19 Might Do to Your Tax Bill Let’s start with your work-from-home setup.   Updated Mar. 10 Staying home for months on end has taken a toll on everyone, but it can also take a toll on your tax return. Here are five unexpected ways the pandemic could affect your taxes — and what tax pros say you can do about it. 1. Home office headaches You may already know that living or working in another state could mean having to file more than one state tax return, but working remotely doesn’t mean you automatically get to write off your home office. The home office ...

WKBT January 21, 2021 3:19 PM Tina Orem Posted: Updated: Getty Images At tax time, it’s often hard to predict how much you’ll owe or receive in a tax refund without actually doing your taxes. But there are some telltale red flags that can mean an unwelcome tax surprise is headed your way, tax pros say. Here’s how to spot the signs — and how to keep them from financially derailing you. 1. A 1099-NEC lands in your mailbox A 1099-NEC reports income earned from freelancing, from a side gig or as an independent contractor. Money your clients paid you is on that form if it was at ...

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