February 12th opening date for 1040s !

Jinx... ya' beat me 🙂

I guess it's good to have it posted under PS and Lacerte too for all those people that will be searching for the answer before asking the question.  Right ?????

"Can someone remind me about stock piling...is it considered stock piling to hold them to wait for the Efile opening?"

Ask me if I care 😎

CAGMC !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Stock piling is holding on to finished returns.  Holding onto finished returns because you can't e-file them is known as "oh crap".  There is a difference.

Are you saying that we can't e-file individual tax returns with refundable credits (e.g., child tax credit, recovery rebates, etc) until March?? Can you provide a link that discusses this?

Making Amercans grimace again!  However, the "early March" date is just an estimate.  What they are saying is that's the earliest a direct deposit could be received, from a return filed February 12.  It should take less time than that, but they don't want people calling any sooner.  

"Under the PATH Act, the IRS cannot issue a refund involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The law provides this additional time to help the IRS stop fraudulent refunds and claims from being issued, including to identity thieves."

What IRS has decided is that they don't want to be the ones stockpiling returns.  But they are ignoring the millions of taxpayers who receive large refunds without these two credits.  And they think that all of the returns are going to be processed in two months?  They waited until March 16 to extend the filing deadline last year.  This year, I think the announcement will come in early February, that April 15 is just another pleasant spring day.  

Do you think the February date is in anticipation of more EIP after Biden takes office?