It’s the most wonderful time of the year. We are of course referring to tax season, that joyous period when you get to send all your money to the government. The Internal Revenue Service (IRS) has officially confirmed that the USA’s tax season will open for individual tax returners on Monday, January 27th, 2020.
"As we enter the filing season, taxpayers should know that the dedicated workforce of the IRS stands ready to help," said IRS Commissioner Chuck Rettig in an official statement. "We encourage taxpayers to plan ahead and use the 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 preparing their tax returns using the IRS’s online Free File program ahead of this date, but be aware that these tax returns won’t start being processed until after the start date. "The IRS encourages everyone to consider filing electronically and choosing direct deposit," Rettig continued. "It's fast, accurate and the best way to get your refund as quickly as possible."
The main advantage to filing your return electronically is that the system will automatically flag up common errors and mistakes for you, as well as prompting you for missing information or sections you may have forgotten to fill out. You can also get free assistance with your tax return through the IRS Free File program or from trained volunteers at community sites.
You've got plenty of time to get your taxes in order as tax season 2019 doesn't close until October 15th, 2020, but there's no reason to delay and you can avoid stress down the line by getting the jump on your taxes early.
If you’re looking for further help with your taxes, you can also consider a third party tax preparer. Check out our best tax software guide to see which one companies we thought offered the best service.