Tax Season 2020

US national debt is growing rapidly due to quarantine: will taxes be raised

As of May 2020, public debt - all the money that the United States borrowed and has not yet returned - is more than $ 25,1 trillion. At current growth rates, the amount could grow by almost 70% to more than $ 42 trillion for 4 ...

Tax Season 2020: Everything You Need to Know About Deferral

In response to the coronavirus pandemic, the Internal Revenue Service (IRS) extended the deadline for filing tax returns and paying any taxes - from April 15, the date was moved to July 15, writes GOBankingRates. If you plan to take a respite, that’s all ...

Taxes in 2021: 10 Important Innovations to Know About

Next year, the tax filing process will change due to the law on financial assistance in connection with the coronavirus and the standard adjustment for inflation, writes MoneyTalksNews. If you have yet to file a tax return for the past year, you have more time than usual ...

Tax Season 2020: Coronavirus Deferred Filing Frequently Asked Questions

At the beginning of 2020, many thought that the chaos and mess of last year’s tax season was long over. According to experts, in the new year to deal with taxes should have been easier, because people have better studied the new tax rules, reminds USA Today. But after…

Pandemic benefit for Americans: is it worth the rush to file a 2019 declaration

The US government plans to pay material assistance to Americans affected by the coronavirus quarantine, and this amount will depend on the recipient's annual income, Fox Business writes. The payout is expected to be $ 1 per adult for individuals with incomes up to $ 200. ...

To flush the toilet and bachelor life: 8 of the strangest local taxes in the US

State tax laws can be complex and quite unexpected. For example, did you know that Hawaii levies a 4% tax on tourist weddings? Here are the 8 most interesting, according to Tax Slayer, tax laws of some US states. Maine Blueberry Tax According to ...

Tax Season 2020: IRS extends filing deadlines for most Americans

On March 17, the head of the US Treasury Department, Stephen Mnuchin, said at a press conference that most Americans could receive a three-month grace period for paying income taxes for 2019, USA Today writes. The IRS will extend the deadline for paying taxes after April 15 for another 90 days ...

Words of the week: a simple explanation of tax terms you need to know in 2020

The proverb says: in life, only death and taxes are inevitable. This statement is dated 1716, and the word "tax" has a long history and means "the amount of money required by the government." The word comes from the Latin taxare: “censure, accrual” and dates from around the XNUMXth century. FROM…

7 common mistakes when filling out a U.S. tax return

The idea of ​​delaying filing a tax return until the deadline of April 15th may seem tempting, but if you put it off until the last moment and make a mistake, this delay can be expensive in the future, writes USA Today. Because of one of the most ...

How to file a tax return yourself: step-by-step instructions

We will not pretend that taxes are fun. Taxes are a burden. But for most people, it’s not so difficult to put their tax affairs in order. Instructions on how to file a tax return are provided by The Penny Hoarder. What do you need…

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