The ultimate Forbes guide to working from home:
—even if you're working. As the coronavirus pandemic continues to spread across the country, many of us are finding that the new normal means not leaving the house, or at least not for work anyway.found that of all those employed in May, 35.2% worked entirely from home, compared to just 8.2% in February. Further, a whopping 71.7% of US workers whowork from home did so in May.
Bottom line: there is currently no national standard for the withholding, filing and payment of state income taxes for employees who work in more than one state or work in one state and live in another.That means you may have tax requirements where you typically work as well as where you live. Usually, you can sort that out via withholding, tax agreements, and credits.
And remember the tax credit? To make it work, you have to file in the right order. You first file and report income to the state where you work and then claim the credit on your resident tax return. If you mix up the order, you may end up missing out on the credit and get stuck paying additional state tax, or miss out on a refund you’re otherwise entitled to.
hire a tax professional, but you should still be aware now of the basic rules in your state to make sure you don’t get a nasty surprise next April. During the pandemic, the AICPA developedthat would allow businesses to continue to withhold state income tax from employees based on the employer's location instead of the employee's work-from-home location - in other words, under these recommendations, your tax and withholding wouldn’t change at all.
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