IRS OUTLINES STEPS TO SPEED REFUNDS DURING PANDEMIC

I truly hope the February 12th start date is not any indication that our tax season is going to be delayed again! Truly, they
can’t hate us that much!

The reason for the February 12th start-date is the IRS needs more time to do additional programming and testing of their
systems following the December 27th tax law changes that provided a second round of Economic Impact Payments and
other benefits. Without these changes, per the IRS, there could have been delays in issuing taxpayer refunds.
To speed up refunds the IRS is emphasizing that taxpayers electronically file with direct deposit. Additionally, they
anticipate that refunds will be issued the first week of March for EITC and ACTC taxpayers, if they file electronically
with direct deposit. The IRS foresees nine out of ten taxpayers will receive their refund within 21 days of when filed via
the method stated.

BY MONIKA HEATON, EA, NTPI FELLOW
AND THE INTERNAL REVENUE SERVICE
SEE FULL ARTICLE HERE