IRS: 2021 filing season to begin on Feb. 12

National

FILE – This Wednesday, Feb. 13, 2019 file photo shows part of a 1040 federal tax form printed from the Internal Revenue Service website. On Friday, Aug. 21, 2020, The Associated Press reported on stories circulating online incorrectly asserting that Democratic presidential candidate Joe Biden’s tax rate on a family making $75,000 dollars a year would go from 12% to 25%. A current federal tax rate of 12% applies to families making up to $80,000, or individuals making up to $40,000. That would still apply under Biden, who has vowed publicly not to raise taxes on anyone making less than $400,000. (Associated Press)

TAMPA, Fla. (WFLA) – The Internal Revenue Service announced Friday that tax season will begin the second week of February.

On Feb. 12, citizens will be able to file their 2020 tax return.

The new start date will allow the IRS time to do some additional programming and testing of systems following the Dec. 27 tax law change “that provided a second round of Economic Impact Payments and other benefits.”

The IRS is urging taxpayers to file electronically with direct deposit as soon as they have the information they need. People can begin filing their tax returns immediately with tax software companies. These groups are starting to accept tax returns now, and the returns will be transmitted to the IRS starting Feb. 12.

“Planning for the nation’s filing season process is a massive undertaking, and IRS teams have been working non-stop to prepare for this as well as delivering Economic Impact Payments in record time,” said IRS Commissioner Chuck Rettig. “Given the pandemic, this is one of the nation’s most important filing seasons ever. This start date will ensure that people get their needed tax refunds quickly while also making sure they receive any remaining stimulus payments they are eligible for as quickly as possible.”

Last year’s average tax refund was more than $2,500. More than 150 million tax returns are expected to be filed this year, with the vast majority before the April 15 deadline.

Below are some key filing season dates:

  • January 15: IRS Free File opens. Taxpayers can begin filing returns through Free File partners; tax returns will be transmitted to the IRS starting Feb. 12. Tax software companies also are accepting tax filings in advance.
  • January 29: Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the option to use prior-year income to qualify.
  • February 12: IRS begins 2021 tax season. Individual tax returns begin being accepted and processing begins.
  • February 22: Projected date for the IRS.gov Where’s My Refund tool being updated for those claiming EITC and ACTC, also referred to as PATH Act returns.
  • First week of March: Tax refunds begin reaching those claiming EITC and ACTC (PATH Act returns) for those who file electronically with direct deposit and there are no issues with their tax returns.
  • April 15: Deadline for filing 2020 tax returns.
  • October 15: Deadline to file for those requesting an extension on their 2020 tax returns

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