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For tax year 2020, the standard deduction rises from 2019 levels to $12,400 for single filers, $24,800 for married filing jointly, $12,400 for married filing separately and $18,650 for heads of...

To be clear, the following are the tax brackets and marginal tax rates for 2020, which apply to the tax returns that you’re required to file by April 15 of this year. Single Filers 10%: $0-$9,875

You won’t be responsible for any underpayment penalties as long as you owe less than $1,000 in taxes with your return, or you have paid 90 percent of your current tax year’s tax liability or 100...

Here’s how to determine which of your kids will qualify you for the credit: 1. Age test To qualify, a child must have been under age 17 (i.e., 16 years old or younger) at the end of the tax year...

TurboTax Staff. July 8, 2020, 2:14 PM. Smiling woman working on her laptop. In March, the COVID-19 pandemic led the Treasury and IRS to delay when Americans are required to file their tax returns ...

The federal tax filing deadline for individuals has been extended to May 17, 2021. Quarterly estimated tax payments are still due on April 15, 2021. For additional questions and the latest ...