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  2. 8 New or Improved Tax Credits and Breaks for Your 2020 Return

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    New or Improved Tax Credits and Breaks for Tax Year 2020. ... The retirement savings contributions credit rewards qualified taxpayers who save for retirement with a tax credit equal to a portion ...

  3. 6 Hidden Tax Breaks for Retirees - AOL.com

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    When you hit age 72, or age 70 1/2 if you are 70 1/2 before January 1, 2020, the IRS requires that you start taking required minimum distributions from your retirement savings in qualified plans ...

  4. It’s Not Too Late To Get These Tax Breaks for 2020

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    Find Out: What Are the 2020-2021 Federal Tax Brackets and Tax Rates? Tax-Advantaged Savings in an IRA Even if you already contributed to a 401(k) or other retirement-savings plans at work, you ...

  5. This Secret IRS Loophole Lets You Reduce Your Retirement Taxes

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    The Child Tax Credit can significantly reduce your tax bill if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and ...

  6. New Coronavirus Relief Package: What Does it Mean for You and ...

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    TurboTax will help you claim your stimulus payment in the form of a recovery rebate credit when you file your 2020 tax return. Those people receiving Social Security retirement, disability ...

  7. The Answers to Top Questions During Tax Season

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    The IRS releases updated tax brackets and tax rates every year. For tax year 2020, to be filed in 2021, the brackets and rates are:12% for incomes over $9,875 ($19,750 for married couples filing ...

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