Sidney Kess Tax Changes for Individuals in the Consolidated Appropriations Act, 2021
Signed into law on Dec. 27, 2020, the CAA also incorporates various measures to provide certain financial assistance to individuals. In his Tax Tips column, Sidney Kess provides a brief roundup of key changes. Most of the changes are effective after 2020, but some of them affect 2020 income tax returns.
January 28, 2021 at 12:50 PM
8 minute read
The Consolidated Appropriations Act, 2021 (CAA) (H.R. 133), which became notorious for its length of 5,593 pages, funds the government for its fiscal year ending Sept. 30, 2021, and makes major tax changes for individuals. Signed into law on Dec. 27, 2020, the CAA also incorporates various measures to provide certain financial assistance to individuals. The following is a brief roundup of these key changes. Most of the changes are effective after 2020, but some of them affect 2020 income tax returns.
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