When can I start filing my 2020 taxes
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When can I start filing my 2020 taxes

 
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Level 15

When can I start filing my 2020 taxes

Online opened in early December.  But the IRS won't open filing until Jan 27, 2021.  Don't be in a hurry to file.  

Level 7
Level 7

When can I start filing my 2020 taxes

January 25 IRS E-file to go live, allowing submission of electronic tax returns for the vast majority of tax filers. Paper tax returns will begin processing later in mid-February as IRS system updates continue (IRS recommends e-filing for faster refunds)

While your returns may be accepted as early as the last week of January, you can't file until you've received the necessary tax documents to complete your returns. These could include:

  1. A W-2 from your employer detailing your earnings
  2. 1099 forms if you earn income outside a traditional employment relationship (such as from working in the gig economy)
  3. A 1098-E form if you want to deduct student loan interest
  4. A 1098-T form if you plan to claim a Lifetime Learning Credit or the American Opportunity Tax Credit
  5. A 1098 form detailing your mortgage interest paid if you plan to deduct it
  6. A 1095(A) form if you have health insurance purchased through a marketplace under the Affordable Care Act
 

There may also be other forms as well, depending upon your specific tax situation. Many of them must be mailed to you by January 31. As a result, you may not be ready to file your 1040 forms until February at the earliest if you're still waiting for your paperwork -- even if the IRS begins accepting returns sooner.

Answers are correct to the best of my ability but do not constitute legal or tax advice.
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