Thanks to Congress’s dragging debate over the “fiscal cliff” and delay in passing the changes to the tax law, the filing season has been delayed. The IRS announced yesterday that it will begin processing tax returns on January 30, 8 days later than normal. The IRS acted quickly once The American Taxpayer Relief Act became law, but computers and printing forms and instructions had to be completed.
The IRS is predicting that most taxpayers will still get their refunds on time. “We have worked hard to open tax season as soon as possible,” IRS acting Commissioner Steven T. Miller said in a news release. Other taxpayers who file more complicated returns, including Form 5695 (Residential Energy Credits), Form 4562 (Depreciation and Amortization) and Form 3800 (General Business Credit), will need to wait until late February to file. (A full listing of the forms that won’t be accepted until later is available on IRS.gov.)
The IRS recommends filing electronically for faster processing and delivery of refunds via direct deposit.