While tax season usually kicks off before we see the end of January, that won’t be the case this year. The IRS has announced a two-week delay to the season start date. February 12, 2021 is now the official opening day of tax season. It is important to note that this does not delay the deadline for filing your taxes. That date is still April 15, 2021.
Ways and Means Committee Chairman Richard R. Neal (D-Mass.) explained in a recent statement that he is disappointed that filing season would start later than usual, but is not surprised given the pressures the IRS has faced this year, including sending out stimulus payments, the prolonged 2020 filing season and facility closures due to the COVID-19 pandemic.
Once the filing season opens, the IRS expects to be able to issue refund payments to taxpayers within 21 days of filing, unless issues with the return arise.
Holbrook & Manter is here to assist you this tax season. This is not the year to go it alone. Reach out to us today for more information.