How to file taxes in 2021: Returns can now be submitted to IRS, NYS
Tax season is officially underway.
It starts today, as the IRS begins processing 2020 federal income tax returns.
The deadline to file is currently April 15. The IRS is encouraging people to file sooner, to avoid the risk of fraudulent returns.
The February 12 start date is approximately two weeks later than normal years.
The IRS said that they need time to test systems after tax law changes.
A few big points to remember:
– Stimulus checks are accounted for; and are not income. If you file taxes yourself, there will be instructions on how to deal with that – whether you received your share of stimulus money or not.
– Unemployment benefits are considered taxable income. That will have to be applied in your return.