IRS Change Means You Can’t File Your Taxes Until Feb. 12
We were able to take advantage of the extra 90-day grace period last year when it came to filing taxes. The pandemic was still relatively new and pushed tax day from April 15 to July15. As of now, there hasn't been any news about having extra time to figure out what you'll owe or get back this year. While we haven't heard about the tax deadline - the IRS is pushing back the start date for when you can file your taxes this year.
You can usually start submitting your tax returns before the end of January. But this year, if you know you'll be getting money back and you want to file as soon as you can - the date has been moved to Feb. 12.
It all comes back to those stimulus checks that we love so much. The IRS says they need to do some tweaking to their systems because of law changes that went along with the stimulus payments. Without being adjusted and tested, the IRS worries that refunds could be delayed due to system issues.
If you plan to file electronically - you can actually start the process at any time. The platforms you use will simply wait to send it to the IRS until the new date of Feb. 12.
With the pandemic, stimulus payments, higher numbers of unemployment, and more.....it'll be a busy tax season. So what's the best way to get a speedy refund? According to the IRS - filing electronically with a direct deposit return will be the quickest way to get your money.
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