Your Tax Day Guide for 2020
Your Tax Day Guide for 2020
Have you started filing your 2019 tax return? If you’re almost done, well, kudos to you! If you’re planning to wait until the last minute, that’s probably a bad idea, unless you’ve been doing it for years already.
Regardless, we are here to help you go through a painless tax-filing experience. That’s right, we want to make your life easier on Tax Day! Find out everything you need to know about filing your income tax return below.
Tax Season 2020
This year’s tax season officially began last January 27th. On that date, the IRS started accepting and processing tax returns from 2019. By now, you should already have your Form W-2 from your employer.
You’ll be required to submit an accomplished copy of Form W-2, which is your Wage and Tax Statement. The form should have been filed and postmarked on or before the 31st of January, so don’t forget to check it.
In the event that your employer hasn’t handed you the form yet, you need to remind them about it. Otherwise, you may call the IRS at 800-829-1040 and provide them the following details:
- Your name, address, contact number, and social security number
- Your employer’s name, address, and contact number
- The date you started to work with your current employer
- Your estimated federal income tax withheld and paid wages in 2019
If you happened to be self-employed or a freelancer, you will need to submit Form 1099 instead of the W-2.
In case you can’t make it to the deadline, you have two options to choose from: either you submit a Form 4852 along with your estimated withheld taxes and wages, or you file for a six-month extension here. Bear in mind, however, that a tax extension will only give you more time to file your return, but not more time to pay your taxes. This means that you should still pay any tax you owe, or at least an estimated amount, before or on the actual deadline.
You can actually file late without having to request an extension — that is if you’re willing to pay a late filing fee. The fee usually costs 5 percent of the amount taxpayers owe for every month that the return is filed late.
It’s important to keep yourself posted about your state’s tax rules and regulations. For instance, most states with an income tax requirement follow the federal tax deadline. Be sure to ask your state’s tax department if you have any concerns.
Your tax refund
Tax refunds normally arrive within 21 days of filing. You can check the status of your tax refund here.
Enjoy a Maximized Tax Write-Off with Us
Did you know that it’s possible for you to get a top tax deduction while you help provide care and treatment for underprivileged breast cancer patients? All you have to do is to donate a vehicle you no longer need to us at Breast Cancer Car Donations.
We’ll sell your donated vehicle at an auction and use the proceeds to support the programs and services of our IRS-approved 501(c)3 nonprofit partners. These charities provide their beneficiaries with easy access to medical facilities so they can undergo full treatment. They also offer free breast cancer screening as well as other breast cancer prevention and education services.
We offer free pick-up and towing services, so there’s no need for you to shell out any cash. We can also collect your donation wherever you reside in the country since our vehicle donation program covers all 50 states. You can donate almost any type of vehicle whether still in good condition or no longer.
As for your tax rewards, expect a tax-deductible sales receipt in your mailbox within 30 days after we sell your donated vehicle. You can claim the full selling price of your vehicle as your tax deduction when you file your itemized federal tax return in the next tax-filing season.
Have a Memorable Tax Day with a Car Donation Today
Do something extra special for this year’s tax day. Touch the hearts of breast cancer sufferers and their families with a car donation. Reach out to us at 866-540-5069 or simply fill out our online form now!