WHEELING, W.Va. (WTRF) — Patience is virtue… That’s what a lot of people will be saying this tax season as the IRS has pushed back the starting date to process returns by about a whole month! That means you will get your refunds later rather than sooner.
And in a round-about way, COVID is to blame.
On December 27th some new tax laws came into effect regarding the stimulus check, and the IRS is buying time to reprogram. They are making sure that if you did not get a stimulus check or did not get all you were owed — that you will get it *now* in addition to any refund.
But while returns will be delayed, YOU still have to be on time.
Things are going to be a little backed up. April 15th is still the deadline for regular returns and October 15th for extended returns. So, yeah. We still have to get everything in, just the IRS will not begin processing these returns until the 12th of February.JASON HASWELL, WHEELING MONTEVERDE GROUP MANAGING DIRECTOR
Even if you free-file return in January to quickly get it done, no matter your hurry, the IRS won’t start working on returns until another month.
May 1st was the deadline in 2020 because of COVID, but with a new administration coming in Wednesday, the broker says depending on the stress on the system, they may push back the April 15 deadline.
Tax experts say you’ll be asked about the stimulus when you do your taxes.