The Internal Revenue Service announced that the nation’s tax season will start on Friday, 2/12/21, when the tax agency will begin accepting and processing 2020 tax year returns. The later start date will give the IRS time to do additional programming and testing of IRS systems following the 12/27/20 tax law changes that provided a second round of Economic Impact Payments.
Per the IRS, this programming work is critical to ensuring IRS systems run smoothly. Without the correct programming in place, there could be a delay in issuing refunds. These changes also ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return. To speed up refunds, the IRS urges taxpayers to file electronically with direct deposit as soon as they have the information they need.