Tax season officially opens on Wednesday
Posted at: 01/29/2013 6:46 AM
Tax season officially opens on Wednesday.
With new tax laws enacted by Congress, the IRS won't begin processing most individual tax returns until January 30. So, there's no advantage to filing before then.
Many major software companies are accepting tax returns in advance of the January 30 processing date, however, they won't submit them until after the IRS systems open on January 30.
According to the IRS, the best way to file an accurate return is through e-file and using e-file with direct deposit is the fastest way to get a refund.
The IRS says it expects to process refunds within the normal timeframes. Last year, the average refund was about 21 days or less.