What the IRS Late Start Means to You

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Feb 01, 2021

Late Start.jpgThe IRS has announced they will not begin accepting 2020 individual tax returns until February 12, 2021. This is several weeks later than in prior years.

It is anticipated most taxpayers will receive their tax refund within 21 days of when they file electronically. This will be true only if they use direct deposit and there are no issues with their tax return. Otherwise, expect it to take longer. Additionally, if you claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), expect your tax refund to be delayed until the first week of March. Again, this expected date is for returns filed electronically, with direct deposit and no issues with their tax return.

The IRS Where’s My Refund tool should be ready to go by February 22, 2021. If you have questions about your return or need help filing your 2020 Tax Return we would be pleased to help. Our accountants can be reached in Cedar Rapids at 319-364-2945, or in Iowa City at 319-339-4884. We can meet via Zoom, conference call, or if necessary, in-person at either office.

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