A number of Covid relief provisions may be claimed in full only through your tax return. Some tax credit rules have become more advantageous as a result of the pandemic. But by filing on time you will avoid being charged a penalty for filing late and potentially a penalty for failure to pay if you still owe any taxes to the IRS. Plus, the rules for the EITC have been tweaked to provide more Covid relief for those who qualify. You may choose whether to base your EITC on your 2019 or 2020 income, whichever would be most advantageous foryou.

Source: CNN January 27, 2021 16:30 UTC