What will be new in taxes in 2021?

What tax deductions can I claim 2021?

With all that out of the way, let’s take a closer look at what you can deduct on your taxes in 2021.

  • Home mortgage interest.
  • Student loan interest.
  • Standard deduction.
  • American opportunity tax credit.
  • Lifetime learning credit.
  • SALT.
  • Child and dependent care tax credit.
  • Child tax credit.

Why is my IRS refund less than expected?

If your refund was less than you expected, it may have been reduced by the IRS or a Financial Management Service (FMS) to pay past-due child support, federal agency nontax debts, state income tax obligations, or unemployment compensation debts owed to a state.

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