Your tax refund may come later this year.
#whatthefox is right!
If you frequent the IRS.gov virtual newsroom (like we do), you’ll discover these facts:
“The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The February 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the December 27 tax law changes that provided a second round of Economic Impact Payments and other benefits.”
Although shocking and unprecedented, the IRS has reason (outlined in this full article): to make sure people eligible for stimulus money, receive those funds before filing their taxes. That’s nice - we’ll let them slide this year.
We encourage you to read the IRS’s latest news release for simple steps to speed your refund and a full list of key filing season dates.
As we’ve said before, our team at Blue Fox is up to speed on the latest tax law changes, and there are a lot. As you can imagine, tax preparation has never been more complex or intricate as it will be in 2021.
If you could use tax support, let’s chat! We serve individuals, self-employed folks, nonprofit organizations, and small businesses.
Welcome to the Blue Fox Blog! A fairly entertaining source of info and news related to our company, nonprofits, social sector trends, and, of course, accounting. Enjoy!
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