H&R Block 2020 Release Date Announced, + Tax Law Changes.
H&R Block 2020 Tax Software Release Date
H&R Block's 2020 - 2020 Tax Season Software is Here!
We are very pleased to announce that H&R Block's 2020 tax year software for filing your tax return by July 15th 2020 will be available beginning November 12, 2020.
With the H&R Block 11/12/2020 tax software release, these new products are fully up to date with the new tax laws going into effect. Changes to itemized and self-employment deductions are just some of the many updates that H&R Block's software is programmed to handle for you.
HR Block tax filing guidance walks taxpayers through these tax changes, how they'll affect your income tax returns, and how to get your maximum refund by taking advantage of tax deduction opportunities. Plus, the H&R Block drag and drop feature allows you to import last year’s tax return data from any tax provider. H&R Block Tax Software offers tax filers an unbeatable value.
HR Block Offers Top Notch Services for 2020
H&R Block is a very diversified company in the tax preparation industry that offers a wide range of tax services, from full service professional tax preparation to free simple online self prepared tax return filing.
Most taxpayers can easily use one of the H&R Block 2020 online versions, the desktop download, or CD installation versions.
Should you ever need assistance, one of HR Block's local offices can be a lifeline of tax support as well as their online facts and questions databases.
H&R Block boasts the fact that they have a retail office within five miles of most Americans that collectively employ over 100,000 tax professionals.
The H&R Block at Home product line is backed by nearly 60 years of tax preparation experience. H&R Block states that they have prepared over 550 million income tax returns and helped their clients receive over $50 billion in tax refund money last year. H&R Block, can easily help you create accurate federal and state returns stress-free from the comfort of your own home.
HR Block 2020 Online Tax Filing Editions will be ready long before needed for the new years tax law changes.
H&R Block 2020 Support for Tax Law Changes
Several important changes were made in regards to the treatment of capital gains, and sunset provisions were eliminated.
- Individuals in 10% and 12% tax rate brackets will now pay 0% on eligible dividends as well as most capital gains.
- Individuals in the 22%, 24%, 32%, and most of 35% income tax rate brackets will now pay 15% on capital gains
- Taxpayers that are in the upper 35% (income above $425,800 / $479,000 married filing jointly) and 37% tax rate brackets pay 20% on capitol gains
- Qualified Dividends: income received is now taxed at the same rate as long-term capital gains
- Unmarried individuals with income over $200,000 and Married couples filing jointly with income over $250,000 will also be required to pay a 3.8% Medicare surcharge tax on investment income
Social Security and Medicare
As was the case in the past, all wages earned in a given year are taxed at the 1.45% rate for Medicare. for 2020 earned wages paid in excess of $200,000 for Unmarried filers and in excess of $250,000 for Married filers will be subject to an extra 0.9% tax on earnings above those limits when filing taxes their 2020 income tax return.
Social Security tax will remain at 6.20%, while the wage limit, or Social Security maximum, increases from $127,200 to $128,400. The Cost of Living Adjustment (COLA) was 2.8% in 2020 -19, which raises the SSI limit to $2,788 per month.
HR Block 2020 Software Downloads and CD's for Computer Desktop Installation offer great tax law support for tax filing.
Proposed changes in lower-of-cost-or-market inventory would end the practice of writing down the taxable value of inventories to reflect a drop in price or damage to the goods. Many small businesses are going to have to declare hundreds of thousands of dollars of income regardless of how much they actually make.
Tax changes are no doubt the hardest issues to keep up on for new filing years. Fortunately the work and research is always one for you if you use HR Block 2020 Tax Software Products.
H&R Block 2020 tax preparation services also provide one-on-one support as an add-on to their software. No need to visit one of their offices to receive professional support, you can access it through HR Block live where you can work with a tax professional via video conference, telephone or instant chat to get the guidance you need. You can also access H&R Block services from your iPhone, iPad or Android device.
Rest assured that the 2020 H&R Block tax product line is a great choice to help you easily prepare your return without stress and confusion. It's a choice that stays on top of satisfied consumer surveys year after year.