Tax Filing Season Begins in February

For most of us, it seemed like 2021 couldn’t come soon enough. However, with the new year come additional hurdles, including tax season, which officially starts February 12th, when the IRS will begin accepting and processing 2020 tax returns. While tax season typically begins in late January, this year, the IRS has decided to extend the deadline in an attempt to give them more time to implement and enforce the tax law changes made late last year.

Despite these precautions, some taxpayers could still find themselves waiting for a delayed refund or struggling with the process of claiming a Recovery Rebate Credit. For help ensuring that the filing process goes as smoothly as possible, you should speak with an experienced Florida tax return preparation lawyer who can advise you.

Tips for Filing This Year

To help simplify the tax return filing process and increase one’s chances of receiving a refund as quickly as possible, most taxpayers are being encouraged to file their returns electronically with direct deposit. Those who are eligible for additional stimulus payments should also consider speaking with an attorney about the guidelines for the Recovery Rebate Credit, which is available to taxpayers who:

• Didn’t receive a stimulus payment last year; or
• Only received a partial payment.

It’s also important to keep in mind that advance stimulus payments that are received separately aren’t taxable and so won’t lower a taxpayer’s refund amount when filing this year.

Important Filing Season Deadlines

There are quite a few important dates that taxpayers should be aware of this year, including:

• February 12, when the 2021 tax season officially begins and the IRS will start accepting and processing individual tax returns;
• February 22, when those claiming the EITC and ACTC credit can begin looking for a refund;
• The first week of March, when most taxpayers can expect to start receiving refunds (if they filed electronically);
• April 15, which is the official deadline for filing 2020 tax returns; and
• October 15, which is the deadline for taxpayers who request an extension to file their 2020 tax return.

To learn more about these deadlines and how they could affect your own tax return preparation process, please reach out to an experienced tax law attorney who can help you.

Schedule an Initial Case Review with an Experienced Tax Return Preparation Lawyer

The challenges of last year were unprecedented and have left many Americans struggling with ill health, job loss, and uncertainty about the future. Making a mistake during the tax return preparation process this year could add further confusion to the lives of taxpayers, making it especially important for those with questions about this year’s filing requirements, to speak with an attorney about their concerns. To learn more about how an experienced Florida tax return preparation lawyer could help you when filing, please call dedicated attorney Ronald Cutler, P.A. at 386-490-9949. We don’t charge for initial consultations, so don’t hesitate to reach out to our legal team to schedule an appointment by phone or online message today.

Resource:

irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refunds-during-pandemic