Don’t Get In A Hurry For Your Tax Return

Don't get in a rush to get or even spend your tax return this year. If you are like me and file your taxes as soon as you get your W-2, don't be in a rush this year.

I always file my taxes as soon as I get my W-2 because I want my refund as soon as I can get it. That won't happen this year because the IRS won't even accept or start processing your return until February 12th.

According to IRS.GOV:

The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

The February 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the December 27 tax law changes that provided a second round of Economic Impact Payments and other benefits.

This programming work is critical to ensuring IRS systems run smoothly. If filing season were opened without the correct programming in place, then there could be a delay in issuing refunds to taxpayers. These changes ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return.

To speed refunds during the pandemic, the IRS urges 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, including IRS Free File partners. These groups are starting to accept tax returns now, and the returns will be transmitted to the IRS starting February 12.

So if you are wanting a rapid refund you are going to have to go to a rapid refund place.

Do you do your own taxes or do you get them done somewhere.