For 2021, the standard deduction amount has been increased for all filers. For more information, see the Instructions for Form 1040. Generally, the amount of income you can receive before you must file a return has been increased. See the instructions for Form 1040, line 30, and the Recovery Rebate Credit Worksheet to figure your credit amount. This credit is figured like last year's economic impact payment, EIP 3, except eligibility and the amount of the credit are based on your tax year 2021 information. Any economic impact payment you received is not taxable for federal income tax purposes, but will reduce your recovery rebate credit.Ģ021 Recovery Rebate Credit. See Form 8863 and its instructions.Įconomic impact payment-EIP 3. Instead, the income limitations for the lifetime learning credit have been increased. The tuition and fees deduction is not available after 2020.
Tuition and fees deduction not available.
For more information, see chapter 1, later. That is because of the Patriots' Day holiday in those states. If you live in Maine or Massachusetts, you have until April 19, 2022. The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Columbia-even if you don’t live in the District of Columbia. For the latest information about the tax law topics covered in this publication, such as legislation enacted after it was published, go to IRS.gov/Pub17.ĭue date of return. Most of these changes are discussed in more detail throughout this publication.įuture developments. This section summarizes important tax changes that took effect in 2021.
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