2020 Tax Filing Season Begins Jan. 27

2020 Tax SeasonThe Internal Revenue Service will begin accepting and processing 2019 tax year returns on Monday, January 27, 2020.   They set this date "to ensure the security and readiness of key tax processing systems and to address the potential impact of recent tax legislation on 2019 tax returns."    Income tax returns with the Earned Income Tax Credit (EITC) or Child Tax Credit (CTC) will not be processed until mid-February as dictated by law.  These credits have often been abused so the additional time allows the IRS to verify that taxpayers actually qualify for them.
 
The IRS encourages taxpayers to file electronically.  It is fast and more accurate than paper returns because it flags common errors and prompts taxpayers for missing information before advancing further into the processing cycle.  Choosing direct deposit is the best way to get your refund as quickly as possible without paying additional fees charged by tax preparation companies and their banks.  
 
Taxpayers don't have to wait until January 27th to start their tax return, but should make certain that they have received all their tax documents (i.e. W2's, 1099's, 1095A's, etc.) before submitting.  Otherwise, there may be a delay in receiving your tax refund because of missing information. Penalties may also be assessed on your return because of this misreported information.
 
To check your refund status, use the "Where's My Refund?" tool on the IRS website or download the IRS2Go app.   If you owe taxes or need help with other tax  issues, use the tools on the Let Us Help You page.  The IRS has already posted an informational warning about their "high call volumes" and explains that most tax questions can be answered more quickly on IRS.gov, the official IRS website, 24 hours a day. 
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