Introduction to the 2021 Tax Forms and Tax Code Changes

Introduction to the 2021 Tax Forms and Tax Code Changes

Robert Weinerman, IronBridge Resources, Presenter

There is never a dull moment when it comes to tax changes, especially in recent years, so it is as important as ever to stay abreast of changes! Lucky for us, we have our good friend and favorite Tax Guy, Robert, to help us make sense of the changes. We hope you will join us for this 90 minute upcoming webinar designed to prepare you for the 2023-2024 Aid Year.

The 2021 Form 1040 and Schedules 1, 2, and 3 contain more individual tax lines than ever, and some of the new tax lines may create conflicting information that needs to be resolved. In this webinar, we will review the 2021 tax forms and identify all the lines that are FAFSA relevant, including the six verification elements, tax lines mentioned in the FAFSA that are not verification items, and lines that you’ll need to understand to correctly review an ISIR. We’ll also look at changes to the 2021 tax code that require taxpayers to report 2020 income on their 2021 tax returns – likely generating an increase in appeal requests from applicants and returning students.