Even in a normal economic environment, early tax filers usually try to file their taxes once they get their final pay stub of the year. However, Americans cannot legally file their tax returns for the prior year until January 1st, meaning you cannot file your taxes for 2020 until January 1, 2021.

What is the soonest you can file your taxes for 2020?

In fact, for the 2019 tax year, the first day that you could submit your taxes was January 27, 2020. However, while your returns may be accepted as early as the last week of January, you can’t file until you’ve received the necessary tax documents to complete your returns.

Why do you think no one filed their taxes in the month of January?

Answer: Because you’re waiting for documents. Not all late-season filers are procrastinators. While most information documents should arrive by the end of January, like an employee’s W-2 reporting wages, or a 1099-INT reporting bank interest, some information documents won’t arrive until March.

Why do you have to file taxes in January?

Which means you’ll get your refund back before everybody else. The reason why taxpayers won’t be able to submit their returns until the January start date is that the IRS has been updating their tax processing systems in readiness for the tax season ahead. They also want to assess the impact of the latest legislation on the tax returns submitted.

When is the earliest you can file your tax return?

You can request a six-month extension from the IRS if you’re not ready to prepare and file your tax return by April 15 by filing Form 4868 rather than your tax return. This would push your filing deadline back to Oct. 15, 2020. 6  Payment of any taxes you owe for the year are still due by the April deadline, however.

When is the first day to file taxes for 2021?

The IRS 2021 tax season start date will be Feb 12 and will allow online efile of tax returns for the vast majority of tax filers. Paper tax returns will most likely begin processing later in mid-February as IRS system updates continue (IRS recommends e-filing for faster refunds)

How to file taxes for the first time as an independent?

From Dependent to Independent: Filing Taxes for the First Time You have to file an income tax return to get a tax refund. You need to report all your income. You can’t claim education tax credits if you are a dependent. Prepare in advance. Gather your documents. E-filing your taxes is simple and secure. Avoid making simple mistakes