IRS sets date for start of tax filing season

WASHINGTON - The IRS says taxpayers can start filing their 2014 tax returns on Jan. 20.

The agency says tax season will start on time despite a last-minute tax law passed by Congress and signed by President Barack Obama.

Earlier this month, Congress passed a bill extending more than 50 tax breaks that had expired at the start of the year. The new law will allow taxpayers to claim the breaks when they file their 2014 returns.

Each year, millions of taxpayers file returns during the first few weeks of tax season so they can get quick refunds. In recent years, the IRS says it was able to issue most tax refunds within 21 days, if the returns were filed electronically.