The IRS already announced the inflation adjustments for next year.
Although the e-file and extension deadline is in a month, the year is almost gone. 2020 has been more than a roller coaster ride, and the next tax season is only a few months away.
Many taxpayers may wonder how their stimulus payments affect your 2020 taxes, if they’re in the same tax bracket, and changes for the 2021 tax season. Keep on reading to find out.