Deciding When to File Taxes This Year Depends on Income Changes

Many taxpayers file their tax returns as soon as possible to get a quick refund, but this season it may pay to procrastinate.

The tax filing season opens tomorrow—as lawmakers continue to hash out final details of a new Covid-19 relief package.

A draft of the relief bill, released by House Democrats, calls for $1,400 payments for individuals earning $75,000 or married couples earning $150,000, plus an additional $1,400 per dependent. The checks, which will be based on either 2019 or 2020 tax return information, phase out completely for single filers making $100,000 or joint filers making ...