2021 Tax Filing Season Begins Feb. 12. This allows the IRS time to do additional programming and testing of IRS systems following the Dec. 27 tax law changes that provided a second round of Economic Impact Payments and other benefits and avoid possible delays in issuing refunds to taxpayers. These changes ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return.
Use these tips to make filing your taxes easier!
File electronically and use direct deposit for the quickest refunds.
Check IRS.gov for the latest tax information.
For those who may be eligible for stimulus payments, review the guidelines for the Recovery Rebate Credit. Provide the details of these payments to your tax preparer, as they are advance tax credits to be reported on the federal tax return.
Advance stimulus payments received separately are not taxable, and they do not reduce the taxpayer’s refund when they file in 2021.