Monday was the day the IRS officially started accepting returns for this year's tax season. There are several reasons to file your taxes early this filing season.

  1. Faster refunds: Getting your return in before the IRS and your state revenue department get bogged down can result in a faster refund!
  2. Reduce the risk of tax fraud: Tax fraud is a growing prpoblem, and it seems like every year there is another major data breach. File your return before someone else claims your refund.[1]

File early and avoid the headache of the last minute rush!

    Important Dates this Tax Season:
  • January 27th: First Filing Day!
  • January 31st: All 1099 and W2 forms must be issued.
  • February 27th: First day the IRS issues EITC/ACTC[2] refunds.
  • March 16th: All S-Corp and Multi-Member LLC tax returns must be filed or extended. K-1s must be issued to all partners.
  • April 15th:
    • Tax Deadline! All returns must be filed or extended by this date. All payments must be made, or additional fees may apply.
    • 1st Quarter 2020 estimated tax payments due.
    • Last day to make 2019 IRA Contributions.
  • June 15th: 2nd Quarter estimated tax payments due.
  • September 15th:
    • 3rd Quarter 2020 estimated tax payments due.
    • All extended S-Corp and Multi-Member LLC tax returns must be filed.
  • October 15th: Extended Individual Tax Returns Due.

Extra Credit

[1]If you want to learn more about tax filing fraud, KerbsOnSecurity has a great article on the topic.

[2]EITC stands for Earned Income Tax Credit and ACTC is the Additional Child Tax Credit. You can learn more about them and your eligibility from the IRS here.