When Will The Irs Accept 2021 Tax Returns?
The 2021 tax season is quickly approaching, and taxpayers throughout the United States are eager to know when the Internal Revenue Service (IRS) will begin accepting 2021 tax returns. As the filing date quickly approaches, many taxpayers are wondering when the IRS will accept their 2021 tax returns, what forms they will need to file, and when they can expect to receive their refunds.
When Will The IRS Start Accepting 2021 Tax Returns?
The IRS will begin accepting 2021 tax returns starting on January 15th, 2023. This is the same date that the IRS has accepted tax returns in previous years. This means that taxpayers can begin filing their 2021 tax returns as soon as the new year begins.
What Forms Do I Need To File My 2021 Tax Return?
The forms you will need to file your 2021 tax return will depend on your specific tax situation. Generally, most taxpayers will need to file a Form 1040 and any applicable schedules. Depending on your tax situation, you may also need to file additional forms such as Form 1099, Form W-2, Form 1098, and Form 8949.
When Can I Expect To Receive My Refund?
The amount of time it takes to receive your refund depends on several factors. Generally, the IRS will process your return within 21 days of your filing date. However, if you are claiming certain credits such as the Earned Income Credit or the Additional Child Tax Credit, the IRS may take up to 90 days to process your return.
What Are The Benefits Of Filing Early?
Filing your taxes early has several benefits. First, filing early can help you avoid the rush of last-minute filers who clog up the IRS’s system in the days and weeks leading up to the filing deadline. Additionally, filing early can help you get your refund faster as the IRS will process your return as soon as it is received. Finally, filing early can help you avoid any penalties for filing late as the IRS will not assess any late-filing penalties if your return is received before the filing deadline.
What Should I Do If I Can’t File On Time?
If you are unable to file your 2021 tax return on or before the filing deadline, you should file an extension using Form 4868. This will give you an extra six months to file your return. However, it is important to note that an extension does not give you an extension to pay any taxes that are due. You must still pay your taxes by the filing deadline to avoid any late payment penalties.
What Should I Do If I Have Questions About My Taxes?
If you have any questions about your taxes, it is important to contact a qualified tax professional. A qualified tax professional can help you understand the tax laws and make sure that you are filing your return correctly. Additionally, a qualified tax professional can help you take advantage of any deductions or credits that you may qualify for.
Conclusion
The 2021 tax season is quickly approaching and taxpayers throughout the United States are eager to know when the IRS will begin accepting tax returns for the 2021 tax year. The IRS will begin accepting 2021 tax returns starting on January 15th, 2023. Taxpayers should make sure to file their returns by the filing deadline to avoid any late-filing penalties. Additionally, taxpayers should contact a qualified tax professional if they have any questions about their taxes.