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Tax Filing Opening Date Postponed Until February 12
On February 12 the IRS will start accepting individual tax returns for processing. Usually it begins at the end of January, but with the new tax legislation recently passed in December 2020, the IRS needs more time in order to get their systems ready. They are hoping this will help to reduce refund delays, but that remains to be seen.
 
The IRS is advising taxpayers to file electronically and to use direct deposit instead of a check by mail to get refunds faster. The USPS has been stressed by the pandemic and checks could take longer to receive by snail mail.
 
If you file your 2020 tax return and are expecting a refund, you can check your status by going to the IRS website, ‘Where’s My Refund?’
Either download the mobile app or use the IRS link directly:
 
https://www.irs.gov/refunds
 
There has been speculation about whether the filing deadline of April 15 will be extended as it was last year in order to allow taxpayers more time to meet their filing requirements. At this point it is hard to say how this will go. I would recommend people to act as if the April 15 deadline will be maintained and to get your books and records ready ... more

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