With the tax season in full swing, taxpayers are doing their best to file their 2020 tax returns. The deadline might have been changed to July 15 in 2020 but don’t expect the same to happen in 2021. Ready or not, the deadline for 2021 is the same, old April 15.
Apart from filing their tax return in due time, taxpayers should also focus on lowering their tax bill for 2021 as well. Amid the ongoing pandemic and with a new presidential administration with its own tax plans, read on to find out what the most important tax-planning issues for 2021 are and what you should or shouldn’t do to nail this tax season.