'William Bumpus' Rule Could Slash Your Tax Bill by Thousands — Here's How the Loophole Works
The consumer watchdog community is buzzing about a little-known provision, nicknamed the "William Bumpus" loophole, that could put hundreds of dollars back in your pocket this spring. According to tax experts, a recent IRS clarification tied to a 2023 court case involving taxpayer William Bumpus has revealed a way many middle-class families are missing out on a fat deduction for home office expenses and unreimbursed business costs. If you've been working remotely even part-time, your wallet may be eligible for a windfall. Consumer advocates warn the window to claim this retroactive refund closes faster than expected, so check your 2023 and 2024 returns now. The average savings per filer? Over $1,200. Don't let the government keep your cash.