Cash Contribution Possible
Taxpayers who choose the standard deduction may be eligible to take a charitable deduction for cash contributions up to $300 made to qualifying charities in 2020 without having to itemize. The deduction lowers both adjusted gross income and taxable income –...
Child tax credits
The ACTC (Additional Child Tax Credit) is for certain individuals who get less than the full amount of the Child Tax Credit. Like the EITC, when filing a 2020 tax return, individuals may be able to use their 2019 earned income to figure the ACTC if their earned income...
Taxes are still due
While the deadlines to file and pay certain taxes have been extended to May 17, the first quarter estimated tax payments for individuals are still due on April 15.
When to File
NC Department of Revenue has extended the time for filing individual income tax returns to May 17, 2021, in conjunction with IRS .