TaxBreak

2021 Standard Deduction Update:

For the tax year 2021, standard deduction increases to $25,100 for Married Filing Jointly (up $300 from the prior year), to $12,550 for Single taxpayers and Married Filing Separately (up $150), and to $18,800 for Heads of Households (up $150).

Tax filing season officially begins Jan 24.

Tax tip: prepare for the upcoming tax season by collecting Letter 6475 (Economic Impact Payments) and, if applicable, Letter 6419 (Child Tax Credit) both of which you should receive from the IRS within the upcoming weeks.

Breaking news: PPP Loan re-opens next Monday January 11.

With President's backing, House voted to increase stimulus checks to $2,000.
The measure is heading to Senate for approval.