When Is The IRS Accepting Returns This Year?
Around late January, taxpayers start wondering “when is the IRS accepting returns this year?” In fact, most people are not sure exactly when they can file their taxes. We have your answer here…
The IRS recently confirmed it will begin processing tax returns on Monday, January 27, 2020. As in past years, the IRS will begin accepting and processing individual tax returns once the filing season begins.
For taxpayers who usually file their taxes early in the year and have all of the needed documentation, there is no need to wait. At Block Advisors, we’ll work with you to make sure you’re fully prepared for your appointment. Your tax advisor will help you with the documentation collection process to make the most of your time with us.
What is the Filing Deadline?
The filing deadline to submit 2019 tax returns is Wednesday, April 15, 2020.
Tax professionals at Block Advisors can start preparing tax returns before Jan. 27 and then submit returns when the IRS e-file system opens.
When Will You Get Your Refund?
Similar to previous years, tax return processing begins late-January of 2020. Around 90% of refunds are issued within 21 days of when the return was received, according to the IRS. Refunds that include the EITC or the additional Child Tax Credit can’t be released before February 15, 2020.
Tax Returns: What’s Changed With Tax Reform?
Due to tax reform, there are many changes that affect will affect your upcoming tax return including tax brackets, bonus depreciation, and the standard deduction. Because of this, it’s important to consult a tax advisor with experience. Find an advisor with specialized knowledge for your unique tax situation now.