If taxes are one of only two universal constants in life, it could only take some major upheaval to delay when governments start collecting. Of course, 2020 saw not just a staggering economic crisis, but a global pandemic and a contentious political scene. It's almost a wonder things are this on track.
Still, the Internal Revenue Service has made some concessions to an absolutely wild year. While tax season usually begins in late January, this year, expect to file your returns only starting on February 12. According to reporting from the New York Times, the new start date comes partly due to "allow the agency to update and test its systems to reflect late-year tax changes approved by Congress, including a second round of economic stimulus payments."
Last year, of course, thanks to COVID-19 throwing everything into chaos, Tax Day for your federal taxes migrated to the middle of the summer. That's not likely to repeat, so plan to have your 2020 return filed by April 15.
How you plan when you file isn't just a matter of procrastination or getting a jump on things. There are distinct advantages to getting your taxes out of the way early, as well as sensible reasons to wait a little while. This year, however, experts are urging taxpayers to get things done as early as possible — and electronically, wherever they can. If you're gnashing your teeth about the thought of doing taxes at all, there are ways you can redirect your angst. Still, our best plan of action, in the end, is just to get them over with.