Following the
January tax law changes made by Congress under the American Taxpayer Relief Act
(ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.
The IRS will
begin accepting tax returns on that date after updating forms and completing
programming and testing of its processing systems. This will reflect the bulk
of the late tax law changes enacted Jan. 2. The announcement means that the
vast majority of tax filers -- more than 120 million households -- should be
able to start filing tax returns starting Jan 30. The IRS estimates that
remaining households will be able to start filing in late February or into
March because of the need for more extensive form and processing systems
changes. This group includes people claiming residential energy credits,
depreciation of property or general business credits. Most of those in this
group file more complex tax returns and typically file closer to the April 15
deadline or obtain an extension.
“We have
worked hard to open tax season as soon as possible,” IRS Acting Commissioner
Steven T. Miller said. “This date ensures we have the time we need to update
and test our processing systems.” The IRS will not process paper tax returns
before the anticipated Jan. 30 opening date. There is no advantage to
filing on paper before the opening date, and taxpayers will receive their tax
refunds much faster by using e-file with direct deposit.
“The best
option for taxpayers is to file electronically,” Miller said.
The opening
of the filing season follows passage by Congress of an extensive set of tax
changes in ATRA on Jan. 1, 2013, with many affecting tax returns for 2012. While
the IRS worked to anticipate the late tax law changes as much as possible, the
final law required that the IRS update forms and instructions as well as make
critical processing system adjustments before it can begin accepting tax
returns.
The IRS originally
planned to open electronic filing this year on Jan. 22; more than 80 percent of
taxpayers filed electronically last year.
Who Can
File Starting Jan. 30?
The IRS
anticipates that the vast majority of all taxpayers can file starting Jan. 30,
regardless of whether they file electronically or on paper. The IRS will be
able to accept tax returns affected by the late Alternative Minimum Tax (AMT)
patch as well as the three major “extender” provisions for people claiming the
state and local sales tax deduction, higher education tuition and fees
deduction and educator expenses deduction.
Who Can’t
File Until Later?
There are
several forms affected by the late legislation that require more extensive
programming and testing of IRS systems. The IRS hopes to begin accepting tax
returns including these tax forms between late February and into March; a
specific date will be announced in the near future.
The key forms
that require more extensive programming changes include Form 5695 (Residential
Energy Credits), Form 4562 (Depreciation and Amortization) and Form 3800
(General Business Credit). A full listing of the forms that won’t be accepted
until later is available on IRS.gov.
As part of
this effort, the IRS will be working closely with the tax software industry and
tax professional community to minimize delays and ensure as smooth a tax season
as possible under the circumstances.
Security Tax Services LLC
North Sound South Sound
2802 Wetmore Ave, Suite 212 33530 1st Way S, Suite 102
Everett, WA 98201 Federal Way, WA 98003
425.339.2400 253.237.0751
fax 425.259.1099 fax 253.237.0701
No comments:
Post a Comment