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New York : Why you should avoid filing your next paper tax return?

New York :

Why you should avoid filing your next paper tax return?

Most taxpayers will receive their refund within 21 days after filing their tax return.

Photo: KAREN BLEIER / . / .

He Internal rents service (IRS) asked taxpayers to submit their tax return electronically this year since the agency has a backlog of almost 7 million statements on paper that he has failed to process from last year.

On Friday the IRS announced that it was delaying the start of the 2021 tax season, which normally begins in late January, until February 12 to avoid further delays.

“If the filing season were to open without the correct scheduling, then there could be a delay in issuing refunds to taxpayers,” the IRS said in a press release.

The IRS received about 16 million paper returns last year; As of December 25, the agency said it still had about 6.9 million returns of people in “process”, that is to say, about 40 percent.

The delay means that people who claim the Earned Income Credit or the Additional Child Credit, they won’t receive their refunds until the beginning of March, as long as they file the tax return electronically and there are no filing problems, the IRS said.

“Given the coronavirus pandemic, this is one of the most important filing seasons in the nation,” IRS Commissioner Charles Rettig said in the statement. “This start date will ensure that people receive their necessary tax refunds quickly and at the same time ensure that they receive any remaining stimulus checks for which they are eligible as soon as possible.”

Related: The IRS has already sent nearly 70% of stimulus checks, but many will not receive them until they file 2020 taxes.

The federal agency said they estimate that 9 out of 10 taxpayers will receive their refund within 21 days after e-submissionIn other cases, the waiting period will be longer.

As of Friday, January 15, the IRS launched Free File, a free online tax preparation tool for taxpayers to file their tax return. The tool is available to taxpayers who have earned $ 72,000 or less during 2020.

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