The IRS announced today, that tax season for 2021 will begin on Friday, February 12, 2021. Starting February 12 the IRS will be accepting returns and processing 2020 tax year returns.
When can I submit my 2020 tax return?
You may have been able to file taxes in January last year but you’ll have to sit tight until February 12th this year.
Just because the IRS will not begin accepting them until February 12 does not mean you have to wait until then to have your return ready.
When is the filing deadline?
As it stands right now the tax filing deadline is April 15, 2021. If that changes we will be sure to let you know.
What about if I need an extension?
If you don’t think that you will be ready to file by the April 15th deadline don’t worry. You will still be able to request a deadline to file for October 15, 2021 for your 2020 tax return.
When will I get my tax refund?
Generally, the IRs says that it 9 out of 10 tax payers get their tax refund within 21 days of them filing. But if you get Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) the IRS says you will be waiting until the first week or March if there is no issues with your tax return.
How can I get ready to file my taxes?
Contact us to receive a link to your secure private client portal to begin uploading your tax documents as you receive them. We will get your return ready so that it can be processed on the first day of the filing season.
If you have any other questions or concerns, be sure to reach out to our office. We are here all year round for you with licensed professionals to help.