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This is a unique time of the year for taxpayers. On the one hand, you re getting ready to file your 2020 tax return (which is due April 15, 2021). But, on the other hand, you re also looking ahead (or should be) and starting to think about how to handle your 2021 finances in a tax-efficient way. In either case, you need to be familiar with the federal income tax rates and tax brackets that apply (or will apply) to you.
The tax
rates themselves didn t change from 2020 to 2021. There are seven tax rates in effect for both the 2021 and 2020 tax years: 10%, 12%, 22%, 24%, 32%, 35% and 37%. However, as they are every year, the 2021 tax
Jackson Hewitt® Warns Taxpayers that Unemployment Could Affect Eligibility for the Earned Income Tax Credit
The tax services company provides tips about the valuable tax credit on EITC Awareness Day
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JERSEY CITY, N.J., Jan. 21, 2021 /PRNewswire/ To increase eligibility awareness of one of the most overlooked tax credits, the Earned Income Tax Credit (EITC), Jackson Hewitt Tax Service® is participating in this year s EITC Awareness Day, on January 29, 2021.
The EITC is one of the largest tax credits, valued at up to $6,660 for qualifying taxpayers with three or more children. Jackson Hewitt wants taxpayers to know that their EITC eligibility could be affected if they were unemployed or had significant employment changes during 2020.
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