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2020 TAX RETURNGovernment Copy Client:LP2760Prepared for:LIGHTHOUSE PROMISE, INC. 5312 SHEPHERDSVILLE ROAD LOUISVILLE, KY 40228 (502) 9645909Prepared by:Larry M. Edwards, CPA Larry M. Edwards, CPA
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How to fill out 2020 tax return

01
Gather all necessary documents: W-2 forms, 1099 forms, receipts for deductible expenses, etc.
02
Determine your filing status - single, married filing jointly, etc.
03
Calculate your income by adding up all sources of income, such as wages, self-employment income, rental income, etc.
04
Deduct eligible expenses such as mortgage interest, student loan interest, medical expenses, etc.
05
Determine if you qualify for any tax credits or deductions.
06
Fill out the appropriate tax forms, such as Form 1040 or any additional schedules.
07
Double-check your calculations and review your filled-out forms for accuracy.
08
Sign and date your tax return.
09
Submit your tax return by mail or electronically.
10
Keep copies of all filed documents for your records.

Who needs 2020 tax return?

01
Any individual or business entity that earned income in the year 2020 needs to file a tax return.
02
This includes employees, self-employed individuals, independent contractors, freelancers, and small business owners.
03
Even if you had no income or very low income, you may still need to file a tax return to claim certain credits or receive a refund.
04
Certain exemptions exist for individuals below a certain income threshold, but it is advisable to consult with a tax professional or the IRS to determine if you are required to file.
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A tax return is a form or forms filed with a tax authority that reports income, expenses, and other pertinent financial information.
Individuals and businesses meeting certain income thresholds are required to file a tax return with the appropriate tax authority.
Tax returns can be filled out manually using paper forms or electronically through tax preparation software.
The purpose of a tax return is to report income, calculate taxes owed, and determine whether a taxpayer is eligible for a refund.
Taxpayers must report their income, expenses, deductions, credits, and other financial information on their tax return.
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