IRS delays start of 2020 tax filing season to Feb. 12
FILE - This April 13, 2014, file photo shows the Internal Revenue Service (IRS) headquarters building in Washington. David Ake, File)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. 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.
For some, credit cards are a major part of tax season, survey finds
Tax season and credit cards seem to go hand-in-hand like peanut butter and jelly, at least if you believe the findings of a recent study conducted by Credit Card Insider. Using SurveyMonkey to conduct an online survey of 3,114 adults from Feb. 3-5, Credit Card Insider found out the following information when it comes to how important credit cards are for people during tax season. 14% of respondents who expected to owe this year planned on using a credit card to pay their taxes. Of those expecting a tax refund, 40% had credit card debt. 75% of those with debt plan to use their tax refund toward paying it off.