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Before Filing Your 2020 Taxes, Here Are Answers to Some Common Questions

Source: https://wsj.com/articles/before-filing-your-2020-taxes-here-are-answers-to-some-common-questions-11611414001 - Jan 23, 2021

ith the April 15 tax deadline less than three months away, here are answers to a few reader questions.

The Internal Revenue Service will begin accepting and processing federal tax returns on Feb. 12. But if you’re ready before then, file electronically, says Eric Smith, an IRS spokesman. “Our e-file and Free File partners will hold any returns they receive and then transmit them to us on Feb. 12,” he says. The average refund on federal income-tax returns last year was about $2,500.

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