When does the IRS start processing 2020 tax returns?
If filing your 2020 self-employed or small business taxes is already top of mind, you’ll find welcome company here at Everlance! But according to the IRS, tax filing season won’t “officially” begin until Feb. 12th. That’s the date the IRS will officially begin accepting and processing 2020 tax year returns, also known as e-file open day.
This year’s tax filing season is opening about three weeks later than usual, to allow the IRS time to perform necessary system testing for tax law changes passed in late December (including a second round of economic stimulus checks).
But wait, I already submitted my 2020 tax returns online??
Don’t worry! Your return will be at the front of the queue once the IRS begins accepting e-filing submissions. But the IRS will not begin processing returns or issuing any refunds until after Feb. 12th.
Still need to file your 2020 tax return?
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Other Important Tax Season Dates in 2021:
- January 15th. Quarterly tax payments are due for Q4 of 2020, if applicable.
- Feb. 1st. By this date, Employers are required to send out Form W-2 (for employees) and Form 1099-MISC (for independent contractors who are paid more than $600 in non-employee compensation during the year, and only non-employee compensation).
- February 12th. IRS begins accepting 2020 tax returns. Tax season “officially” begins!
- February 15th. Everlance + Block Advisors launch an offer for combined expense tracking and tax prep. Learn more here!
- February 16th. Deadline for filing W-4 exemption extensions with your employer, if applicable.
- March 2nd. If you’re a farmer or a fisherman who did not pay all estimated tax payments, you must file your income tax return and pay due taxes by this date.
- March 15th. S corporation and partnership tax returns are due, if applicable.
- April 15th. TAX DAY!!! This is the deadline for filing 2020 tax returns, as well as quarterly tax payments for Q1 of 2021 if applicable.
- June 15th. The second payment of estimated quarterly tax payments for 2021 is due, if applicable.
- September 15th. The third payment of estimated quarterly tax payments for 2021 is due, if applicable.
- October 15th. Deadline to file for those requiring an extension on their 2020 tax returns.
Your tax situation is unique—just like you! This blog represents generalized tax information. If you need help with your specific tax situation, please reach out to your tax advisor.