Every year, the IRS announces the opening date for when it will begin to accept tax returns from the previous tax year. This year, the IRS will begin processing 2019 returns on January 27, 2020.
Taxpayers who file their 2019 returns electronically before the January 27 date will not receive any preference over filers who wait until the opening date to submit their returns. Hard copy returns that are filed by mail before January 27 will also not be processed before the opening date. However, this does not suggest that taxpayers should delay the preparation of their returns. Early preparation will ultimately expedite processing when the season does open, and taxpayers should receive their refunds sooner than those who wait.
Other Noteworthy Dates on the 2020 Tax Calendar
Taxpayers are wise to take note of other important dates relevant to both the 2019 tax season as well as preparation for 2020:
- January 31, 2020: Deadline for issuing W-2 forms to employees.
- March 15, 2020: Deadline for subchapter-S corporations to file Form 1120S, and to issue Schedule K-1 forms to shareholders; and for partnerships to issue Form 1065 to partners.
- April 15, 2020: Filing deadline for 2019 tax returns or requests for extensions of filing. Also the deadline for paying estimated taxes for the first quarter of 2020.
- June 15, 2020: Deadline for paying estimated taxes for the second quarter of 2020.
- September 15, 2020: Deadline for paying estimated taxes for the third quarter of 2020.
- October 15, 2020: Final deadline for filing 2019 returns following submission of a request for an extension.
Other deadlines may apply depending on the function or nature of a business and its ownership. In all cases, individuals and business owners that are uncertain over which deadlines apply to them should consult with experienced tax counsel to maintain full compliance with all IRS filing deadlines and requirements.
Are There Advantages to Filing Electronically?
The IRS recommends that taxpayers file their returns electronically for faster processing and greater overall assurances that the returns are not subject to errors. Likewise, if the IRS owes a refund, the taxpayer will receive that refund more quickly by direct deposit than by waiting for a physical check to be processed and mailed.
Contact Rosenberg Martin Greenberg, LLP for More Information on Tax Dates and Filing Deadlines
The tax attorneys at Baltimore’s Rosenberg Martin Greenberg LLP work closely with their clients not just during tax season, but throughout the entire year to ensure that all applicable deadlines are met and that returns and forms are filed in compliance with all current state and federal tax law.
Please call our offices directly for more information about the 2020 schedule of tax-related deadlines and for answers to any other questions you have as the 2019 tax season gets underway. With offices in Maryland and Delaware, we represent individuals and businesses in tax matters ranging from unfiled returns and collections to criminal tax defense and litigation.