The 2021 tax season is coming closer and if you’re wondering when you can submit your 2020 tax return to the Internal Revenue Service, there isn’t much left to wait. The Internal Revenue Service generally opens the tax season the last Monday of January. Since the last Monday of January is the 25th, that’s when the 2021 tax season will officially start.
2021 Update: The IRS will begin accepting 2020 tax returns starting from February 12, 2021.
Since the COVID-19 pandemic may cause the IRS to process federal income tax returns a bit later than the usual, it’s best to file taxes electronically if you want to get your tax refund faster.
There is also a possibility where the 2021 tax season might get complicated because of the 2021 stimulus checks. If you’ve already seen IRS Treas 310 on your bank account and received the second stimulus, that’s good but millions of Americans are still waiting for their payments. This makes everything only more complicated for the IRS.
When will I hear from the IRS about my refund?
It will not come as a surprise that there might be possible delays on tax refunds. Although the IRS workers will work and do their best to issue tax refunds as fastly as it can be, with the overwhelming number of stimulus checks to be issued, tax refunds are expected to arrive late.
The best thing you can do to get your tax refund faster is to file taxes electronically and get your refund direct deposited to your bank account. This will ensure that your tax return is processed fast and your refund will be sent to you in a matter of hours.
If you haven’t heard from the IRS about your federal income tax refund or your stimulus payment, you can track the status of both.