Tax filing start date delayed - still April 15 deadline

IRS blames stimulus payments for problems

Posted 1/19/21

The Internal Revenue Service won’t start accepting your 2020 individual income tax returns until Feb. 12.

That's weeks later than usual.

It means you won't get a refund - if you do - until …

This item is available in full to subscribers.

Subscribe to continue reading. Already a subscriber? Sign in

Get 50% of all subscriptions for a limited time. Subscribe today.

You can cancel anytime.
 

Please log in to continue

Log in

Tax filing start date delayed - still April 15 deadline

IRS blames stimulus payments for problems

Posted

The Internal Revenue Service won’t start accepting your 2020 individual income tax returns until Feb. 12.
That's weeks later than usual.
It means you won't get a refund - if you do - until later, too. 
Even with a shorter filing time, your tax returns need to be filed by April 15.
The IRS needs time to program and test their computers after the new stimulus payments.
Millions of us who didn’t get the full stimulus payments will be able to claim the money through our 2020 tax returns. 
This includes those who had children during 2020 and those who didn’t qualify for the full payments based on 2019 income but whose income fell in 2020. 
You may be surprised to learn that unemployment insurance benefits are taxable, too.
The Feb. 12 filing start means later refunds could slow consumer spending.
Under a law designed to limit fraud, the IRS could not pay refunds until mid-February to anyone receiving the earned-income tax credit and the refundable portion of the child tax credit.

IRS, taxes, Income, tax, stimulus, pay

Comments

No comments on this item Please log in to comment by clicking here