For those who want to file their tax return as early as possible, January 27, 2020 will be the day they will begin processing. The Internal Revenue Service (IRS) has announced that the 27th will be the day they will officially start the 2019 tax return season.
The deadline to file taxes is April 15, which falls on a Wednesday in 2020. All tax returns must be mailed by midnight on the 15th, indicated with the postdate on the envelope. Late tax returns can incur a late fee.
The IRS expects 150 million tax returns to be filed by the deadline, so they welcome people to file as soon as possible to beat the mad dash to get them in by the 15th.
According to the IRS Commission Chruch Rettig, “As we enter the filing season, taxpayers should know that the dedicated workforce of the IRS stands ready to help. We encourage taxpayers to plan ahead and use tools and information available on IRS.gov. The IRS and the nation’s tax community are committed to making this another smooth filing season.”
Taxpayers can start getting their taxes in order before the January 27, 2020 start date. The tax returns will not be processed until that day, though. It is expected that early returns will likely be processed faster since the number of returns that come in early are much less than the ones that come in towards the end of the tax season.
As long as the taxpayers have everything they need to file, they can do it at any time. Most people need to wait for their employers and clients (as in the case of contractors) to send W9s and 1099s before they can file. Employers and those who have hired contractors have until January 31st to send out documentation about earnings.