No one likes to think about income tax returns before they have to. But if you start preparing now for 2021, it’ll make things easier when tax time comes.

August 13, 2020

Everyone should have a system for keeping information organized, such as file folders for paper documents. Add tax records to your files throughout the year as you receive them. Tax-related documents you may have because of the COVID-19 crisis include IRS Notice 1444, which shows the amount of your Economic Impact Payment, and any unemployment compensation documentation you’ve received.

To see the IRS’s tips for year-round tax planning: https://bit.ly/2DXC9ik