Expecting a refund this year?
Sadly, you’ll have to wait.
According to the Internal Revenue Service (IRS), tax season will open on Friday, February 12, 2021, when it begins accepting paper and electronic tax returns. That’s is about two weeks later than usual.
According to IRS Commissioner Chuck Rettig, like most things these last few months, the late start is due to the Covid-19 pandemic. He says, “Given the pandemic, this is one of the nation’s most important filing seasons ever. This start date will ensure that people get their needed tax refunds quickly while also making sure they receive any remaining stimulus payments they are eligible for as quickly as possible.”
Taxpayers eager to get their refunds early should gather their tax documents, complete their returns, and file as early as possible. The fastest turnaround for accurate returns filed electronically using direct deposit generally takes up to 21 days. Taxpayers who file accurate paper returns should expect to receive their refunds about six to eight weeks after the IRS receives their return.
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