Economic Relief, Taxes and You: An Overview of the 2021 Tax Season

The COVID-19 pandemic and subsequent economic relief provided by federal and state governments have brought some changes to tax season this year. To discuss the ways performers should properly prepare and submit their tax information, including reporting received economic assistance, the President’s Task Force on Education, Outreach & Engagement presented Tax Updates for Entertainment Performers on March 9. The webinar was led by New York Local member and tax attorney Sandra Karas. 

Karas, who is the secretary-treasurer of Actors’ Equity Association and serves as the director and chair of the Volunteer Income Tax Assistance (VITA) program in New York, has given other presentations about filing taxes as a freelance performer, including the previous PTEOE event, Taxes for the Performing Artist. Throughout the hour-long presentation, she provided timely information about how members should report assistance from the Coronavirus Aid, Relief and Economic Security (CARES) Act and other government programs in their 2020 income reports. Additionally, attendees received information about forms and resources performers can use to make tax preparation easier, and helpful tips for keeping track of work-related expenses.

Click here for performer tax worksheets and FAQs. To watch the full presentation, scroll below. 

The information provided through the workshop is given for informational purposes and is not a suitable substitute for the advice of a tax preparer/professional, legal or financial counsel. Please talk to your tax professional about your individual situation.