Americans have more time to prepare for tax filing season.
The IRS announced Friday that the start of the 2020 tax filing season will be delayed to Feb. 12 compared to the usual opening in late January.
This change comes as the IRS needs more time to prepare after the COVID-19 relief act took place in December.
“Given the pandemic, this is one of the nation’s most important filing seasons ever,“ the agency said in its announcement. “These changes ensure that eligible people will receive any remaining stimulus money as a recovery rebate credit when they file their return.”
It’s recommended that taxpayers submit their returns electronically and use direct deposit as they’re ready this season.
The IRS anticipates that EITC and ACTC taxpayers who file electronically with direct deposits and have no issues with their tax returns will receive a refund the first week of March.
The deadline for filing 2020 tax returns is still April 15.