H&R Block 2020 On Sale
H&R Block 2020 products are available here on our website from their release date around November 20th 2019.
HR Block continues to evolve every year offering enhanced features that continue to make electronic tax filing easier and more rewarding with each new tax season. Getting the most out of your tax software insures that your are getting the biggest refund year after year, and this year is no exception with the enhance H&R Block 2020 Features for easier online tax preparation and filing.
H&R Block At Home 2020 Product Versions
The H&R Block Premium & Business edition includes At Home Premium plus software to prepare a business, payroll, partnership and estate tax returns. The At Home Premium & Business is a more comprehensive software bundle than the similarly named TurboTax Home & Business that covers only schedule C sole proprietors.
HR Block 2020 Features, iphone Apps & Tax Law Changes:
Tax season can be filled with a lot of complicated questions, but HRBlock is here to help. Download the tax answers FREE HR Block iphone app to enhance your tax knowledge by tapping into more than 50 years of tax experience — no matter where you are!
With the H&R Block mobile app you can:
- Get instant answers to the most common questions being asked by tax filers just like you!
- Create a customized checklist. Whether you're completing your taxes in an office or doing them yourself, H&R Block can help you figure out what you need to complete your tax return.
- Stay informed of important dates pertaining to your personal tax situation.
- Access the video gallery along with news and updates features.
- Quickly estimate your tax refund with the in-app Tax Estimator.
- Test your tax know-how with their interactive quiz. See how you score.
- Access hundreds of tax terms with the A-Z tax Glossary.
- Easily find an H&R Block office - use GPS or your ZIP code to find an office near you.
Child tax credits? W-2s? H&R Block App puts the answers at your fingertips.
Now iPhone and iPod touch users can have the expertise of H&R Block tax professionals in the palm of their hand. Whether it’s getting a personalized answer to their toughest tax questions, passing the time with a 30-second tax trivia quiz or reviewing criteria for Heads of Household, the H&R Block 2020 PDA Application has the answers taxpayers want.
Tax questions can come up at any time and the Tax Answers app puts H&R Block’s professional expertise at your fingertips no matter where you are or when you have questions. It connects users to the Get It RightSM Community which is manned by 1,000 H&R Block tax professionals ready to share their expertise. Thousands of previously answered questions can be browsed by topic or specific questions can be asked and submitted for a tax professional’s response. Answers are sent directly to the taxpayer, typically within 24 hours.
The Tax Answers App includes a tax lingo glossary that explains hundreds of often-confusing, tax-related terms and phrases. Another feature offers a quiz for those wanting to test their tax knowhow knowledge. You can also use the office locator to provide directions and help set an appointment.
The H&R Block 2020 Tax Answers App is available for free from the App Store on iPhone and iPod touch or at www.itunes.com/appstore.
H&R Block 2020 Tax Central Overhaul:
For 2020 HR Block has continued with it's Tax Central app that is available as a free download from H&R Block or your app store, it includes:
- A slicker looking interface using icons instead of the list format.
- The new tax estimator which comes in handy for liability estimations
- A new slider-bar interface makes it easy for everyone with a simple return to see roughly how much Uncle Sam will refund to their bank account (or how much they can expect to pay).
- Easily create a customized tax checklist based on personal needs. By answering a series of yes or no questions, Tax Central determines what paperwork you'll need to prepare your taxes, and displays the appropriate deadlines for reminders like of the year estimated quarterly tax payments.
The Q&A feature is replaced with an answer guide to some of the most common asked questions and a related video gallery. A "News & Updates" section keeps users up-to-date on tax code changes, and provides articles with filing tips and tricks. These sections, coupled with the glossary, make Tax Central a relatively comprehensive tax companion.
As Congress debates the future of expiring tax cuts, H&R Block At Home ® 2020 is prepared to accurately and easily guide taxpayers along. The 2020 software helps taxpayers navigate through late-breaking changes, no matter what Congress decides. H&R Block is prepared for several possible tax change scenarios and can push the button when Congress acts.
The Tax Central iPhone app puts H&R Block's professional knowledge and up to date news right in the palm of your hands for quick and easy access to all your tax questions and concerns.
Some of the tax law changes covered in HR Block 2020 Editions:
This is an overview for tentative tax law change purposes and may be subject to changes on or before the end of the year. Many facets of the new tax laws may be revised prior to 2020.
In 2020 for each exemption claimed, the amount deducted on a federal income tax return for 2017 income is $4,050, which is an increase of $50 from the 2015 amount.
2020 Social Security and Medicare
Medicare taxes as in the past will be based on wages earned in a given year and are taxed at the 1.45% rate. However, when preparing your tax return by April 2020, new Medicare taxes will be applied to wages earned in excess of $200,000 for Unmarried filers and in excess of $250,000 for Married filers at a rate of 0.9%.
The Cost of Living Adjustment (COLA) was 0.0% in 2016, maintaining the SSI limit at $2,663 per month. Social Security tax remains at 6.20%, while the wage limit, or Social Security maximum, also remains at $118,500.
2020 Capital Gains Taxes
ATRA made several important changes to the treatment of capital gains, and eliminated sunset provisions, which has added stability and permanence to these rules:
- Qualified Dividends: income received shall be taxed at the same rate as long-term
- Income Thresholds:
- individuals in the 10% and 15% tax brackets will pay 0% on eligible dividends as
well as most capital gains.
- Tax Rate:
- individuals falling within the 25%, 33%, and 35% federal income tax brackets will pay 15% on capital gains, while taxpayers falling within the 39.6% bracket will pay 20%.
A new 3.8% Medicare surcharge tax on investment income is now added under certain incomes; thereby increasing the effective rate on capital gains to 23.8% (20% + 3.8%) This will apply to:
- Unmarried individuals (Single) with income over $200,000
- Married couples filing jointly with income over $250,000
2020 Unified Credits, Gift Tax & Estate Tax
ATRA has also increased the estate and gift tax rate from 35 to 40%. The gift tax and estate tax exclusion continues to be indexed for inflation and remains at $14,000 (the same as 2015 and 2014) and increase to $5.45 million respectively for 2016.
2020 Standard Tax Deductions
The IRS states that approximately two out of every three taxpayers claim the standard deduction. For 2016, there is virtually no change to standard deductions from prior levels applied to your tax return in 2020, including:
- Single (Unmarried Individuals): $6,300 (no change
- Married Filing Separately: $6,300 (no change)
- Head of Household: $9,300 (an increase of $50)
- Married Taxpayers Filing Jointly and Qualifying Widow(er)s: $12,600 (no change)
Tax law changes will effect most us, but the H&R Block 2020 tax software editions are set to make sure you get every deduction possible as they guarantee you your biggest refund possible.
H&R Block 2020 gives you the most options of any tax preparation brand:
You can file using online tax preparation, buy their software or download it to your desktop, or visit one of their local offices all over the US and have your taxes prepared by one of their income tax professionals. Whichever you choose you'll find that their exceptional guidance and extra attention to individual support makes this brand a top rated choice for your tax preparation this year.