E-File is Now Open: Why You Should File your Taxes Early

Tax News woman filing taxes on phone

Today, January 27, the IRS officially kicked off the opening of the 2020 tax season and is now accepting e-filed tax returns. As we all know, some taxpayers wait until the last minute to file their taxes, but if you stop to think about it, why wait?

It is no secret that your tax refund can make a big difference in your financial life, and if you receive a tax refund – which the IRS reported close to 72% taxpayers did last year – you may want to submit your tax return as quickly as possible. TurboTax is open now so you can e-file your taxes and get one step closer to your tax refund.

Still need convincing to file now? Before you resign yourself to procrastinating until July to file, here are five great reasons why you should get a head start on your taxes.

  1. Get your tax refund faster: The holiday season can take a toll on our bank accounts, which is why one of the most common reasons to file taxes early is to receive a faster tax refund. Last tax season close to three out of four tax filers received a tax refund, and the average direct deposit tax refund was close to $3,000! The IRS states that it will issue nine out of 10 tax refunds within 21 days or less with e-file and direct deposit. You could get a jump-start on paying down credit card debt, student loans or save it for a rainy day.
  2. You may be eligible to file your taxes for free: TurboTax has helped millions of Americans file their federal and state taxes for free with TurboTax Free Edition. For the sixth year in a row, millions of Americans with a simple tax return can file their federal and state tax returns for free, guaranteed with TurboTax. $0 fed. $0 state. $0 to file.
  3. Filing online is easy: Using TurboTax online is effortless, accurate, and saves you money. Once you have gathered your tax forms, you can go online and answer simple questions related to you and get your maximum tax refund. TurboTax searches for more than 350 tax deductions and credits and makes sure you get every one you deserve based on your answers. There’s no reason to stand in line at a tax store when you can do your taxes in the comfort of your own home, and even on the go.
  4. Get advice from tax experts from your couch: When you file your taxes with TurboTax Live, you can connect live, via one-way video, to a TurboTax Live CPA or Enrolled Agent with an average of 15 years experience to get personalized tax advice, on-demand, from the comfort of your home. TurboTax Live CPAs and Enrolled Agents can even review, sign, and file your tax return and they are available in Spanish and English.
  5. Extra time to pay taxes you owe: If you owe money to the IRS, you may still have a good reason to file your tax return as soon as you can. If you submit your tax return in the middle of January, you do not have to pay taxes you owe until the filing deadline in mid-July. Preparing your taxes early will give you time to figure out how you’re going to pay, or other options if you owe. You may even be able to contribute to your IRA before the tax deadline and reap the benefits of an additional tax deduction on your 2019 taxes.

TurboTax is up to date on the latest tax laws and has you covered. TurboTax will ask you simple questions about you and give you the tax deductions and credits you’re eligible for based on your entries. If you have questions, you can connect live via one-way video to a TurboTax Live CPA or Enrolled Agent with an average 15-years experience to get your tax questions answered.  TurboTax Live CPAs and Enrolled Agents are available in English and Spanish, year-round and can also review, sign, and file your tax return.

Comments (20) Leave your comment

  1. Turbo Tax, I filed 3/18/19. I got my state tax refund 3/22/19. I haven’t gotten an email about the federal filing. When will I hear if it has been accepted or not?

  2. Can someone at turbo tax please help us get the irs to tell us what the hold up is, efiled and accepted 2/9 says processing, called and they said it could be another 45 days from march 18. That is not when we filed and accepted. So from 2/9 til March 18 for one date, then March 18 to May 2 is the last date given me last week. He just said that long for processing. We didnt have a complicated form. Using deluxe tt was hoping for some help. We need our refund before another 60 days

  3. Turbo tax seems to be the reason our taxes are being delayed. Ours too were efiled 2/9/19 accepted, but still processing. Was told by irs it could process until May 2, that’s not saying a refund. I personally think Turbo Tax should go at bat for us. Ours were a simple return. From all I am reading Turbo tax users are being held up

  4. I was accepted on the 2:8:19 but have not gotten back no money as yet, can u say how longer I have to wait

    1. I filed my taxes on Feb18th
      Everytime i check the IRS page
      “Where’s my refund”?
      It comes up as no information found
      & i even called the 1 -800 #
      Same answer i got
      What is going on??
      Im very worried. I need to pay my bills
      I hope turbo tax is a legit place

  5. can i just figure my taxes to get a rough idea of where i stand? Then later on go back and enter the figures again and file it with irs? i am already a turbo tax customer

  6. For several days attempts to efile from TurboTax 2018 for Mac fail with

    Looks like we’ve had a technical hiccup.
    Try e-filing again. If that doesn’t work, you can print your return and file by mail.”

    What is the problem and when will it be repaired?

    1. Hi Anthony,
      The IRS expects to issue 9 out of 10 tax refunds within 21 days or less if you e-file with direct deposit.

      Lisa Greene-Lewis

  7. If I filed and was accepted on the 12th of Jan do I count 21 days from then or the 19th also does that mean I will get my refund since accepted

    1. Hi Britney,
      You can start your taxes with you last pay stubs, but you should use your W-2 to file. You can also import your W-2 information with TurboTax. TurboTax can import W-2 information directly from 1.4 million employers and financial institutions. You are given the option to import your W-2 once you are in TurboTax Online.
      Thank you,
      Lisa Greene-Lewis

      1. Lisa I filed my taxes January 25th and my federal and state has not been excepted it still says there both pending…..

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