The short answer is that many investment firms, including Wealthfront, issue tax documents in mid-to-late February in order to minimize the chance that you receive a restated 1099 and therefore have to refile your taxes.
By waiting until around Feb 20th, we ensure that the most recent investment information is captured in your tax documents, including dividend payouts and any company-specific events like mergers and acquisitions. While this doesn't guarantee you won't receive a restated tax form, it minimizes this chance.
This change, which many firms have adopted, is the result of a law change and IRS report from 2009 which noted that because a significant number of investors were receiving restated forms, the deadline for tax documents should be pushed into February. You can read more on the IRS website here.
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