IRS Delays Start to Filing Taxes

January 15, 2021
The IRS announced today that it is delaying the start of the 2020 tax filing season to February 12, but maintaining the tax filing deadline of April 15.

Normally, the IRS opens tax season in late January, but due to the

COVID relief act that took effect in late December, the agency claims they need more time to prepare for filings.
What Else to Expect

With the constant updates and accommodations being made around the pandemic, a number of other adaptions will be made to this year's tax returns including t

he recovery rebate credit, something available to filers who didn't receive the full amount of stimulus.

Refunds take longer to receive:

  • Early filers who claim certain tax credits will be waiting until the first week of March to get their much-needed refund.
    • The IRS said this would still be the case if the filing season opened in late January.
  • Low-income taxpayers who receive the earned income tax credit or the additional child tax credit will be among those waiting longer for their returns.
    • The IRS says this is due to anti-fraud law that require additional time to review those returns to prevent fraud.
    • The IRS expects filers in this group will collect their refunds the first week of March – assuming they file electronically and there are no issues with their returns.
  • Normally, the turnaround time for a refund is about 21 days if a tax return has no problems.

Reconsider filing online if you normally don't:

  • Taxpayers who submit their returns in paper format risk extensive delays.
  • The IRS accumulated a large backlog of mail last year amid the pandemic, and returns have taken a longer time to process.