The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.
Because of the pandemic and stimulus payments, the Internal Revenue Service will not start accepting federal tax returns until February 12, 2021.
The February 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the December 27 tax law changes that provided a second round of Economic Impact Payments and other benefits.
This programming work is critical to ensuring IRS systems run smoothly. If filing season were opened without the correct programming in place, then there could be a delay in issuing refunds to taxpayers. These changes ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return.
Closing a business is always a difficult decision regardless of the circumstances. With this in mind, the IRS redesigned the closing a business page of IRS.gov to help business owners navigate the federal tax steps when closing a business.
Small businesses and self-employed taxpayers will find a variety of information on the page including:
What forms to file
How to report revenue received in the final year of business
In the latest release from IRS highlighting to choose electronic filing to report and pay the Federal Vehicle Use Tax Form 2290. Tax2290.com guarantees easy, fast and safe filing; economic, affordable and transparent pricing; quality, experienced and live expert support to help you through with your 2290 efile. Tax2290.com is the most experienced and market leader since 2007.
The Internal Revenue Service reminded owners of most heavy highway vehicles of their responsibility to timely file Form 2290, Heavy Highway Vehicle Use Tax Return. The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors and buses. The tax is based on the weight of the vehicle. A variety of special rules apply. These special rules are explained in the instructions to Form 2290.
The deadline to file Form 2290 and pay the tax is Aug. 31, 2020, for vehicles used on the road during July.