4 Ways Your 2021 Taxes Will Be Different From 2020's It's never too early to start planning to avoid a surprise tax bill by John Waggoner, AARP, May 18, 2021 | Comments: iStock / Getty Images You've checked and rechecked your 2020 tax return, sent it to the IRS, and then spent some time sobbing in the basement. Now you're all set to plan for your 2021 tax return. No? Think of it this way: A bit of planning now can keep you from wailing and gnashing your teeth next year, when you fill out your 1040 for this year. Bear in mind that the White House has proposed major tax changes, most of which affect high-income taxpayers — those earning more than $400,000 a year — and those with taxable investments. Will those tax changes take effect for 2021? Probably not, although you never know.