E-Filing Will Start February 12, 2021 for Individuals

January 31st, 2021 at 7:41 AM

The IRS will begin accepting and processing 2020 tax year returns on Friday, February 12, 2021.

The most expedient way for taxpayers to receive their refunds is by filing electronically and choosing direct deposit for their refund.

By Law. the IRS cannot issue refunds before mid-February for tax returns that claim the earned income tax credit or ACTC; the IRS must hold the entire refund -even the portion NOT associated with the EITC or ACTC. According to the IRS, this provides them the time to ensure taxpayers the receive the refunds they deserve, and prevent errors and fraud.

Mark S. Fineberg, CPA