2020 Tax Year Updates

The IRS announced today that they will begin accepting E-Filed Tax Returns for Tax Year 2020 beginning on Friday, February 12th, 2021.  Check out the official announcement from the IRS here: IRS E-File Open Date Announcement

While this is definitely later than normal, it really should not come as much of a surprise.  The IRS has a considerable challenge in sending out the second round of stimulus payments by January 15th, 2021.  Add an additional challenge of having new tax law signed on December 27th, 2020 that directly impacts the 2020 Tax Year which requires additional programming by the IRS and tax software companies.  It simply takes time to make sure the E-File program works properly.  Now, add in a multitude of states that need to decide if they will accept all, some, or none of the tax law and then adjust the state tax forms and get that sent out to the tax software companies.  All in all, the extra time is a good thing for them.

But, what about you, the taxpayer?  Right now you can gather your tax forms, drop off your tax paperwork at the office and we can begin working on your tax return, finish it, and have you sign the paperwork.  It will be done and ready to E-File.  At that point, we will have your tax return in our E-File database ready to go on the day that the IRS E-File system opens.  So, don't delay.  Our full time and seasonal tax preparer's are in the office beginning Monday, January 18th, 2021 and they are ready to get to work on your return.  

Stay Safe and have a Wonderful Day!

~Jason