What does the February 12th filing date mean for me?
The IRS has now issued the date that e-filing will open this year. That date is Friday, February 12, 2021. This is the official date that the tax agency will begin to accept and process 2020 tax returns. Tax return preparers are still able to file your taxes ahead of the February 12th processing date. Once the IRS accepts and acknowledges the filed tax return, then the 21 day processing time begins.
What does this mean for individual tax filers?
This delayed tax filing date gives not only the IRS time to update their systems but also allows tax preparers to make sure they are updated on all of the tax laws that were implemented at the end of 2020. Let's be honest, there have been so many changes and us tax preparers have been burning the midnight oil to make sure that we have all the knowledge and tools to service our clients. You can read a little more on the updates here: https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refund
How can FLS help?
FLS is currently accepting clients for 2020 tax preparation. Our software developer has been working diligently to make sure all updates have been implemented and we are able to provide accurate tax returns. We are also offering tax advances up to $5000 dollars for those who qualify tor tax refunds. This is great news! And we are happy to assist with any questions that you may have! Visit flsbusiness.com for more info!