![]() ![]() If both are also blind then the additional amount is $5,400. These additional amounts add together so that a married couple filing jointly with both being over 65 years old would get a total of $2,700 in additional standard deduction. For 2021 the addition for married couples filing jointly is $1,350 and $1,700 for those filing as single or head of household. Those that are older than 65, or blind, or both over 65 and blind, receive additional standards deductions. Heads of household can claim a standard deduction of $18,800. The 2021 standard deduction increases to $12,550 for single taxpayers and married taxpayers who file separate returns, while married couples filing jointly can claim an amount twice that size at $25,100. source income and Form 1040-X that is used to amend tax returns that you have already filed but need to be corrected. There is also the less common Form 1040-NR that is used by nonresident aliens who have U.S. ![]() The basic difference between this version and the standard Form 1040 is that Form 1040-SR uses a larger font and includes a standard deduction table printed right on the form. You can use this form whether you itemize or claim the standard deduction. Form 1040-SR is a newer version of Form 1040 for people age 65 and older. While Form 1040 is only two pages long, many people need to attach additional forms and schedules to their tax returns to report different types of income and claim deductions and tax credits. The standard Form 1040 is the version most taxpayers will use. There are two main versions to choose from: Form 1040 optionsįorm 1040 is the federal income tax form that almost all individuals use to report their income to the IRS, claim tax deductions and credits, and calculate their refunds or tax due for the year. Even if you wait until the last minute to file your 2021 tax return or file for an extension, you'll still need to calculate your first 2022 quarterly estimate and make a payment by the April deadline. If you make estimated quarterly tax payments, the deadline to make your first estimated payment toward 2022 taxes has also been extended to Apdue to April 15th falling on a weekend. Just remember that even if you file an extension to October, any amount of tax that you owe for the year is still due on the earlier April deadline. Individual states typically follow the IRS deadline extensions but if you are unsure then check your state government’s website for more information.Īpril 18, 2021, is also the deadline for requesting an individual tax return extension and making 2021 IRA contributions.įiling an extension will postpone your filing deadline until Octowhich is a couple of days further out than usual since the 15th of October falls on a weekend. One of the first questions most people want an answer to is: When are taxes due?įor 2021 tax returns - those filed in 2022 - the deadline to file your return and pay any tax due has been extended a few days from Apto Apbecause the 15th falls on a weekend. Fortunately, this comprehensive guide can help you get through filing 2021 taxes, whether you file on your own or get help from a tax expert. Download Black by ClearTax App to file returns from your mobile phone.For information on the third coronavirus relief package, please visit our “ American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post.įiling your taxes for the prior year is often top of mind when the new year rolls around. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Clear can also help you in getting your business registered for Goods & Services Tax Law. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. ![]() Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.ĬAs, experts and businesses can get GST ready with Clear GST software & certification course. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Just upload your form 16, claim your deductions and get your acknowledgment number online. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.Įfiling Income Tax Returns(ITR) is made easy with Clear platform. Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. ![]()
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