3 Tips for Retirees Filing Their 2020 Tax Returns

Seniors should pay attention to changes related to charitable giving, required minimum distributions and the Recovery Rebate Credit when completing their taxes.

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The CARES Act and the COVID-Related Tax Relief Act, which were both enacted last year, included several tax breaks to help Americans battered by the pandemic. Now it’s time to fill out your 2020 tax return by the May 17 deadline to claim what you’re due. (The deadline was previously April 15 but was delayed because of the pandemic.)

This year’s tax return may be different because of the new tax breaks. For many seniors, the changes for charitable giving, required minimum distributions and the new Recovery Rebate Credit deserve the most attention, according to Letha McDowell, president-elect of the National Academy of Elder Law Attorneys.

Rocky Mengle

Rocky Mengle was a Senior Tax Editor for Kiplinger from October 2018 to January 2023 with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, Rocky worked for Wolters Kluwer Tax & Accounting, and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky holds a law degree from the University of Connecticut and a B.A. in History from Salisbury University.