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The sooner you file your tax return, the sooner you’ll receive any refund due (and, this year, you might also boost your next stimulus check). That’s why some people like to file their return as early as possible. But this year, the IRS won’t start accepting 2020 tax returns until February 12, 2021. While we’re almost there, that’s still 16 days later than last year.

  • How Filing Your Tax Return Early (or Late) Could Boost Your Third Stimulus Check

Why the delay? According to the IRS, the later filing season start date allows them time to do additional programming and testing of their systems following the December tax law changes that provided a second round of stimulus checks and other benefits. If filing season were opened without the correct programming in place, then there could be a delay in issuing refunds to taxpayers.

If you have a federal tax refund coming, you could get your money back in as little as three weeks. In the past, the IRS has issued over 90% of refunds in less than 21 days. If you want to speed up the refund process, e-file your 2020 tax return and select the direct deposit payment method. That’s the fastest way. Paper returns and checks slow things down considerable.

  • 20 Most-Overlooked Tax Breaks and Deductions

However, don’t expect your refund before the first week of March if you claim the earned income tax credit or the additional child tax credit. By law, refunds for returns claiming these credits must be delayed. This applies to the entire refund, not just the portion associated with the credits.

If you’re not going to file your return right away (e.g., to increase your third stimulus check), just make sure you file before the April 15 deadline.