IRS Says Key Tax Forms Will Be Ready For Tax Season, But There’s No Start Date Yet

From Forbes:

With all of the last minute changes to the Tax Code - and those stimulus check reconciliations - it was clear that the Internal Revenue Service (IRS) was going to have to make revisions to tax forms used to file 2020 tax returns (the tax returns that you’ll file in 2021). Most tax professionals expected a delay in getting those forms together, but the the IRS has issued a statement confirming that “updates to key federal tax forms and instructions are complete and will be available when Americans begin filing their tax returns.”

Read entire piece here


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I must admit that I’m a bit surprised about the delay. The new stimulus checks are 2021 income events so why would they delay 2020 tax forms? Unless they are temporarily short-handed due to the processing of the new stimulus checks and were late preparing those tax forms for 2020.

Won’t make a difference for me since I always wait until I receive all my 1099 forms from banks before filing. By then (early February), IRS should have updated their 2020 tax forms I’d hope.

Are you sure about this? I have a suspicion they’re all dated 12/31/2020.

The $600 checks maybe.

But the upcoming $1400 checks will have to be dated in 2021.

I thought @Shandril was talking about the 2nd stimulus payment that was finalized in the last week of December.

Clearly any new checks that haven’t passed congress yet would be in 2021 and would not affect 2020 tax forms.

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Oh, OK. Fair enough.

I’m pretty certain the $1400 checks are a lock at this point, though. It was scanchain who schooled me, on another thread, that the Democrats can make this happen now with no Republican help whatsoever.

Why do you say $1400? All news about the Biden plan say $2000. Are they subtracting the $600 that was issued in December?


And you’re right. Biden is aiming for a total of $2000.


Yep and those who’re in the phaseout income category will be getting more since there’s more room with 1400 b/f you’re down to $0

Mine came 1/1/21 but no bearing on taxes, right?

Also IRS needs more time b/c they’re administering stimulus. I haven’t called about my PY refund/ 10/14 delivered but not IRS confirm. I’m waiting for all stimulus calls to taper next week.

season starts 2/12/ 2021

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Direct deposit, paper check or EIPcard? If not DD, what’s the date on the check or the “funding” date in the EIPcard transaction list?

DD to BOA. Why does the date matter?

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Probably doesn’t. Technically these are tax credits that should not affect income or AGI. But if they’re accompanied by a tax form that needs to be mentioned in the tax return, and tax returns are done based on the calendar year (1/1-12/31), then it would impact tax forms (both 2020 and 2021 forms would have to allow for this credit to post in either year).

Also I thought 1/1 was a bank holiday…

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You’re right 01/04/2021 IRS TREAS. No tax forms last time and I believe no reporting unless you didn’t get it…

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When do you mean by “last time”?


the last time I got the stimulus check

Ours came on 1/4. They are non-taxable any way so the only thing that could delay the IRS would be to make sure to keep track of who got them or not. For those who did not get any checks say because they did not file in 2018-2019 but have income in 2020, I guess it matters if they are issued in 2020 and 2021 for figuring out how much credit they can claim on their 2020 return. Maybe that’s the meaning of the reconciliation language in the press release.

Obviously not, since I normally would have my return all completed by now.

Ok, I admit I’m lazy now. But up to a couple years ago I always completed my return the weekend after new years.

Well I didn’t get my second stimulus because the IRS hasn’t processed my 2019 return yet. I filed it in June, before the extended deadline, but it had to be on paper. Anyway, they haven’t processed it yet, so I’m supposed to get the stimulus money as part of my 2020 tax filing (which is probably why they had to update forms).

Unlucky for me, while my 2019 income was under the income limit, my 2020 income is likely to be well above it, and I’ve got a feeling I’m not going to get anything due to that.