Ladies and gentlemen, mark your calendars!
The Internal Revenue Service has announced it will begin accepting tax returns on January 27, 2020.
IRS Unveils Start Date for the New Tax Filing Season
According to a press release, the IRS will start processing e-filed tax returns and traditional paper returns from individual tax filers on the last Monday in January.
The deadline for filing your taxes for this year falls on the traditional date of April 15, which is a Wednesday.
While you may be able to actually do your taxes with most software and tax professionals before January 27, the IRS is required to hold your return until that date.
Meanwhile, for people with incomes of less than $69,000, Free File forms are expected to become available shortly. You can do your taxes for zero dollars this way if you qualify.
Finally, if you want to get your refund as soon as possible this year, the IRS says there’s one clear best way to file.
“The IRS encourages everyone to consider filing electronically and choosing direct deposit,” IRS Commissioner Chuck Rettig says. “It’s fast, accurate and the best way to get your refund as quickly as possible.”