2020’s worst tax laws, proposals & legislative approaches

January 2, 2021

Form 1040_hand holding crumpled IRS form_png

A new year is time for reassessment and resetting of priorities. That’s true in the tax world, too.

But to know what needs to be fixed or at least rejiggered, you also have to look back at what went wrong. Again, that applies in to taxes.

Not surprisingly, the horrid 2020 offers us plenty, in our personal and professional lives, to re-evaluate. One more time, also a tax world truth.

That’s why today’s Saturday Shout Out — the first of 2021 in this continuing feature; you can read 2020’s if you want to reminisce — goes to Howard Gleckman’s 2020 tax review at the Tax Policy Center’s TaxVox blog.

Coal stocking2Gleckman, senior fellow in the Urban-Brookings Tax Policy Center at the Urban Institute, hands out the blog’s annual lump of coal awards for the worst tax policy ideas of the year.

The 2020 list is limited to 10. I’ll let you read them at your leisure this first Saturday of the New Year. But here’s a preview from Gleckman’s post:

“The first three come from the states, courtesy of my Tax Policy Center colleague Richard Auxier. The rest are all about the 2020 presidential campaign and pandemic relief.”

Again, no surprise that the coronavirus dominates the list. It probably will do so in 2021’s tax and other roundups, too.

But since I’m trying to start the New Year with at least a little optimism, let’s hope that COVID-19’s intrusion into our lives and tax laws will be much, much less this year.

You also might find these items of interest:

 

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Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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