With all that has happened in 2020 you may ask if there anything you need to be aware of when filing your taxes for 2020? Is there anything that might be different? The short answer is yes. There are a few items that retirees should be reminded when filing. 1) An IRS extended deadline 2) waived 2020 RMD’s 3) Charitable donation write offs 4) and stimulus checks. Extended Deadline Due to the ongoing pandemic, the IRS has made the decision to extend the 2020 individual tax filing deadline. The deadline is now May 17th 2021. Individuals can also delay federal income tax payments till May 17th 2021 for the 2020 tax year without penalty or interest. The same is true for the NYS tax return. Most other states have matched the federal filing deadline, but if you do not live in NYS, you can use the link here to check with your state tax agency. Waived Required...
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