Quantcast
Channel: William Vaughan Company Blog » irs tax return
Viewing all articles
Browse latest Browse all 2

Want to File Your 2012 Taxes Right Now? You May Have to Wait….

0
0

irs22The IRS just announced that it plans to open the tax filing season and begin processing individual income tax returns on January 30, 2013.  The reason for the delay stems from the enactment of the American Taxpayer Relief Act of 2012, which passed on January 2, 2013. The Act extended some of the Bush-era tax cuts for most taxpayers and restored many deductions and credits.  The IRS will begin accepting tax returns only after updating and completing programming of its processing systems to reflect these retroactive changes.

The IRS has confirmed that a majority of the taxpayers will be able to start filing their tax returns on January 30, 2013.  The remaining taxpayers, who may be claiming residential energy credits, depreciation or general business credits won’t be able to start filing until late February or early March because of the need for the processing changes.  A full listing of the forms that are affected and won’t be accepted until later is available at www.irs.gov.

The January 30, 2013 start date is regardless of whether you are filing electronically or on paper.  You will however receive tax refunds much faster by filing electronically and having your tax refund electronically deposited.

By: Amy Slates, CPA



Viewing all articles
Browse latest Browse all 2

Latest Images

Trending Articles





Latest Images