Tax filing season when IRS will begin accepting and processing 2020 tax year returns is set on February 12, 2021, as per the announcement made today by the IRS. The tax season announced from 12th Feb is for Individual taxpayers only. This means that your tax refund will be late a bit as the turnaround time for a tax refund is about 21 days if a tax return has no problems.
7 Key 2021 filing season dates
There are several important dates taxpayers should keep in mind for this year’s filing season:
- January 15. Taxpayers can begin filing returns through Free File partners; tax returns will be transmitted to the IRS starting Feb. 12. Tax software companies also are accepting tax filings in advance.
- January 29. Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the option to use the prior-year income to qualify.
- February 12. IRS begins 2021 tax season. Individual tax returns begin being accepted and processing begins.
- February 22. The projected date for the IRS.gov Where’s My Refund tool being updated for those claiming EITC and ACTC, also referred to as PATH Act returns.
- First week of March. Tax refunds begin reaching those claiming EITC and ACTC (PATH Act returns) for those who file electronically with direct deposit and there are no issues with their tax returns.
- April 15. Deadline for filing 2020 tax returns.
- October 15. Deadline to file for those requesting an extension on their 2020 tax returns