Dear Friends of Eddy and Clayton,
In a normal year, tax filing season usually starts in January. But this isn’t a normal year.
On January 15, the IRS announced that tax filing will begin on February 12.1 This gives the agency more time to prepare for the second round of COVID stimulus payments, which required changes to the tax code.
Despite the delay, it’s important to note that the deadline to file is still April 15. (Last year, the deadline was pushed back to July because of the pandemic.)
Because so many people file electronically now, the IRS relies on computers to process the flood of information they’ll soon have to wade through. By delaying tax season until February, the IRS will have more time to test their systems. This is the best way to tamp down on possible mistakes and ensure people get their refunds as soon as possible.
With that said, my advice is to get your tax filing done sooner rather than later. I find that doing so reduces stress now and headaches later. So, I would like to remind you that, with a letter of authorization on file, your tax preparer may contact us directly if they have questions about your accounts or investments. If you wish to name a CPA or other licensed tax preparer to whom we may release your account information, please contact the office at 650-373-0088 or firstname.lastname@example.org.
In the meantime, if you have any questions about your taxes, or if there is anything else, I can do for you, please let me know!
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