SIOUX CITY, Iowa (KCAU) – Siouxlanders are currently filing their taxes but there are some changes to this year’s tax season.
Some of those changes include bringing back/allowing tuition fees and credits, and standard deduction increasing for a second year.
“Well, we are really into year two of some changes that already took to affect last year. So, some people are still either getting used to it or more familiar with it,” said Elizabeth Acosta, H&R Block Multi-unit Team Leader, and Senior Tax Specialist.
There is a new W-4 form for 2020 which means you cannot add the number of allowances you have. Instead, you calculate the dollar amounts.
Another change is that senior citizens have their own form, a 1040SR.
They can also use two W-4s for taxes, one for pension and the other for voluntary withholding.
It’s also important to get as much back on your tax refund as you can.
“Well, you don’t want the IRS to keep anything more than what they absolutely entitled to. You work hard for your money. So, I think you should have as much of it in your pocket,” said Acosta.
Every year, tax season is from January 1 to April 15.
It’s important to file your taxes early.
“Yeah, if I can. I mean, you know, it’s a busy time of the year. So, everybody doing their taxes at the same time. So, if you can get in and get them done. Try to get them done,” said Salladad Gale, Sioux City tax filer.
H&R Block in Morningside is currently open seven days a week from 9 a.m. to 9 p.m.
For more information visit their website.