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IRS to start accepting returns January 27

Tax Form
Posted at 8:36 AM, Jan 21, 2020
and last updated 2020-01-21 08:36:57-05

INDIANAPOLIS — It's that time of year again — tax season. And starting next week, the IRS will begin accepting returns.

Do you have everything you need?

First and foremost, you want to organize your tax paperwork, including last year's tax return and this yea'rs W2 and 1099s.

RTV6 spoke with Michael Jamison, the president of 'On Target CPA,' and he says about 90 percent of the population chooses to take the standard deductions, which is going up nearly $200 this year. And, of course, file as soon as you're ready so you don't run the risk of getting your identity stolen.

"If you are going to have a refund and you have a very simple tax situation, there is really no reason to procrastinate," Jamison said. "If you file your return at the end of January when the IRS starts accepting electronically filed returns, you are going to get your return sooner, so typically people who have a big refund coming want to get that money."

Don't forget that if you made under $69,000 last year, you should be able to file for free electronically.

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