investment, retirement, savings, taxes
Getting Ready for 2020 Tax Filing—A Few New Things to Consider
Spring is fast approaching, and it usually brings warmer weather, blooming plants and trees…and the annual federal income tax filing deadline, which has been extended this year to May 17, 2021. While May 17 is the deadline, the Internal Revenue Service (IRS) announced that this year’s tax season started on Friday, February 12, 2021, which was when the tax agency began accepting and processing 2020 tax year returns. Because of the COVID-19 pandemic, there are a few new tax features to consider as you think through your income tax preparation this spring.