Keegan's Tax and Financial Services
Keegan's Tax and Financial Services

Tax Topics

 

 

 

 

 

 

 

 

 

 

  • The Internal Revenue Service confirmed that the nation's tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns.

  • Delayed Refunds

     

  • Expecting a refund? Some refunds cannot be issued before mid-February.
    • Due to tax law changes put in place by the PATH Act in 2017, the IRS cannot issue refunds for taxpayers claiming the Earned Income Tax Credit (EITC), Additional Child Tax Credit (ACTC) or the refundable portion of the American Opportunity Credit (AOC) until February 15, 2020.  We recommend using the Where's my Refund tool on IRS.gov to get information about when you may receive your refund.
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    • This applies to the entire refund, even the portion not associated with these credits.
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  • While the IRS will process your return when it is received, it cannot issue related refunds before mid-February.
  • The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards starting on Feb 27, 2020, if they chose direct deposit and there are no other issues with the tax return.
  • April 15 Filing Deadline

    The filing deadline to submit 2019 tax returns is Wednesday, April 15, 2020.

 

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