The IRS has announced that it will begin accepting and processing 2020 tax returns on Friday, Febrary 12, 2021. This is later than the usual January starting date. The IRS says that the delay is due to extra time that was needed to program and test its computer systems after the the passage of the Consolodated Appropriations Act, 2021 in late December 2020.
The IRS also stated that it anticipates that it will begin issuing refunds to taxpayers who claim the earned income tax credit or additional child tax credit in the first week of March if they file electronically with direct deposit and there are no issues with their tax returns.
If you haven’t yet scheduled an appointment to prepare your tax return, we encourage you to contact our office today. Scheduling your appointment early will ensure that we can prepare your taxes in a timely manner, and that you receive any refund you might be due as quickly as possible.