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2021 Taxes and more

2021 Taxes and more

January 26, 2021
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In last week’s, Weekly Vision, we included an article regarding the IRS and their decision to begin accepting tax returns a little later this year, Friday, February 12th.  Although the date change may seem disappointing to some,  if you intend to work with a tax professional or use tax software, there's no need to wait. If you prepare your return now, not only will you have your taxes done and out of the way, but your filings will be transmitted to the IRS starting February 12th .1

Please note that even though the tax season starts later, your deadline to file is still April 15th. To request an extension, make sure you do so by April 15th. This may grant you until October 15th to file your 2020 tax returns. However, this is an extension for filing only. The IRS still requires one to pay any taxes due by the original deadline.1

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1. IRS.gov, January 15, 2021