IRS changes for 2020 Taxes

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Being aware of tax changes before filing taxes can save you a headache. And before you begin looking for specific changes, it’s important to understand the vocabulary of tax season.

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1. Charitable Cash Contribution Write-Offs

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2. Extenders on Certain Tax Breaks

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It provides a dollar-for-dollar credit to small and midsize employers for the cost of providing coronavirus-related leave.

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4. Waived RMDs for 2020

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6. Ability to Continue to Contribute to IRA Accounts

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1. Are Stimulus Payments Taxable?

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IRS changes for 2020 Taxes

Being aware of tax changes before filing taxes can save you a headache. And before you begin looking for specific changes, it’s important to understand the vocabulary of tax season.

1. Charitable Cash Contribution Write-Offs

Taxpayers who take the standard deduction can also write off $300 in charitable cash contributions.

2. Extenders on Certain Tax Breaks

It provides a dollar-for-dollar credit to small and midsize employers for the cost of providing coronavirus-related leave.

3. Tax Credits Related to the Coronavirus Paid Leave Law

4. Waived RMDs for 2020

5. Changes to Beneficiary IRA Inheritance

6. Ability to Continue to Contribute to IRA Accounts

Taxpayers of any age can make contributions to their IRA accounts.

1. Are Stimulus Payments Taxable?

Common COVID Relief Questions for the 2020 Tax Year

Common COVID Relief Questions for the 2020 Tax Year

2. Is Unemployment Insurance Taxable?

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