SCDOR Tax Update

Filing taxes 2020, Tips from SCDOR
Photo credit Getty Images
Released by SCDOR.

More South Carolina taxpayers filed their Individual Income Tax returns on time this year, with more taxpayers choosing electronic filing options.

According to preliminary figures by the South Carolina Department of Revenue (SCDOR), 2.37 million Individual Income Tax returns were filed by mid-July, compared to 2.24 million in 2019. This year's due date was moved to July 15 to align with the IRS tax relief deadline, which changed due to the COVID-19 pandemic. 

2020 Filing Season Stats:

  • More than 92% of taxpayers filed their returns electronically. The SCDOR encourages electronic returns because they can be processed faster and are safer than paper returns.
  • The number of paper filers decreased this season, with a total of 179,902 paper returns filed by mid-July, compared to 230,809 by the same time in 2019.
  • More than 1.58 million South Carolina Individual Income Tax refunds have been issued as of mid-July, totaling $1.6 billion.

Tax Credit Highlights

  • Motor Fuel Income Tax Credit: Figures show increases in claims for the state's Motor Fuel Income Tax Credit, with the credit claimed per return nearly doubling from last year.
    • 2020: As of July 15, 2020, 73,818 returns claimed a total of $3.1 million in credits. The average credit per return is $42.23.
    • 2019: Last summer, the total claimed during the 2019 tax season was $1.8 million. The average credit per return was $23.65.
    • The available cap for this credit increased from $40 million last year to $65 million for the 2020 tax season.
  • Earned Income Tax Credit: SCDOR data also show that 56,265 returns reported an Earned Income Tax Credit as of July 15. This is a non-refundable credit that increased in 2020, offering more money for low- to moderate-income working individuals or couples, particularly those who have children.

Learn more about South Carolina tax credits here.

Need to amend your return?

If you already filed your South Carolina Individual Income Tax return and realize you need to fix an error, the SCDOR encourages you to amend your return electronically, a new option available through many tax software providers. Filing electronically using a reputable vendor is your safest and fastest filing option.

To amend your South Carolina Individual Income Tax return by paper, file a new 2019 SC1040, and check the Amended Return box. Complete the return as it should have been filed, including all schedules and attachments, plus an Amended Return Schedule (Sch. AMD).

The IRS also recently announced that for the first time it will begin accepting 2019 federal amended returns online this summer.

 

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