The tax season is one of the hardest and the easiest parts of the year for some. The Internal Revenue Service is in charge of all operations related to federal income taxes.
The tax day starts when the agency says so. Over the years, the start of the tax season has been changed many times and to this day, we don’t have an exact date for the start of the tax season. Although we don’t know exactly when the tax season starts, the Internal Revenue Service has an agenda to give a start to the tax season on the last Monday of January.
However, exceptions apply as the tax season started at a later date than that last year. The Internal Revenue Service launched tax season on February 12, which was late than most other tax seasons. A delay on the start of the tax season was expected as the Biden administration brought in some changes to the tax code due to COVID-19. Now fast forward to 2022, a delay in the tax season isn’t something we anticipate. We expect the Internal Revenue Service to give a start to the tax season on the last Monday of January, making the tax day January 31, 2022.
Frequenty asked questions about tax day
What does tax day mean?
The tax day generally refers to the last day to file a federal income tax return with the Internal Revenue Service. It’s also seen as the start of the tax season for some.
Is tax day always April 15?
Yes, the standard deadline to file a federal income tax return is always April 15. However, the Internal Revenue Service is very flexible against things that can concern taxpayers. As seen in 2020 and 2021, the Internal Revenue Service postponed the tax filing deadline to July 15 and May 15, respectively.
What day tax refunds deposited?
The tax refunds are deposited in about three weeks after the Internal Revenue Service gets ahold of your return. It might take more or less – this depends on the workload of the IRS and the complexity of your tax return.
Can you file taxes on tax day?
Yes, the Internal Revenue Service accepts tax returns on April 15, or at a date later than that. You won’t pay failure-to-file or late-filing penalties for filing your return on tax day. Need more time to file your return? Place an automatic extension of time to file before April 15 and you will six additional months to file your return without being subject to any late-penalties.