Tax season


February 26, 2021

Tax season was extended last year due to the pandemic and the deadline postponed. If you waited on a refund, it may not have come until November but this year things are back on schedule.

There are some changes you will want to be aware of. A law passed in 2017 nearly doubled the standard deduction, which reduced the number of taxpayers who itemized but the tax code for standard deductions has some credits and deductions that are new.

The CARES Act, passed in early 2020, allows you to deduct $300 for cash donations to charity. That’s an above-the-line deduction that will reduce your tax...

For access to this article please sign in or subscribe.


Reader Comments(0)


Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2021