January 21, 2021

IRS Tax Season Officially Begins February 12, 2021

By David Vasquez, Senior Accountant, Tax & Business Services

IRS Tax Season Officially Begins February 12, 2021 Tax & Business

The IRS announced last week that it will begin accepting and processing 2020 tax returns on February 12, 2021, two to three weeks later than in previous years. Taxpayers may begin the process of preparing their tax returns now, although the IRS will not start accepting returns until February 12.

The later start is due to the passage of the Consolidated Appropriations Act (“the Act”) in the waning days of 2020, on December 27, which potentially changed the tax landscape for both businesses and individuals. The Act included an expansion of the Paycheck Protection Program (“PPP2”), provided new stimulus funding, and introduced other benefits such as Economic Impact Payments. The delay will allow the IRS systems to be programmed for any changes that may affect processing. Unfortunately, the delay in opening filing season will likely mean a delay in receiving refunds for those eligible.

In order to avoid further delays, the IRS encourages taxpayers to file electronically with direct deposit information. As of now, the filing due dates have not changed and are as follows:

Pass-through entities

Partnerships and S corporations
March 15


Citizens and resident aliens
April 15
Deceased taxpayers
April 15
Nonresident aliens with income subject to withholding
April 15
Other nonresident aliens
June 1


C corporations
April 15
Resident foreign corporations
April 15
Non-resident foreign corporations
June 15
September 15

Other entities

Farmers’ (and other) cooperatives
September 15
Estates and trusts, generally
April 15
Charitable organizations–unrelated business income
May 15
Employees’ pension trust, etc.–unrelated business income
April 15

Please consult your Marcum tax professional with any questions. If you are not a Marcum client, we encourage you to reach out to us. Our goal is to provide information to help businesses succeed through this pandemic.

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