Tax Season Begins January 30th, but delays for other taxpayers likely

Tax Season Begins January 30th, but delays for other taxpayers likely

IRS delays filing due to recently-passed tax laws

Due to the changes in the tax law prompted by the recently enacted American Taxpayer Relief Act of 2012 (ATRA), the IRS has announced it will begin accepting 2012 tax filings on January 30. The IRS had anticipated a January 22 start date. However, forms and processes must be updated in response to the ATRA, necessitating the delay. You might want to try filing paper returns, but it won’t speed up the process either. The IRS suggests filers use e-file with direct deposit for faster tax refunds.

Most households may begin filing tax returns as soon as January 30, 2015. However, some filers may not have their returns processed until late February or March because of the need for more extensive form and processing system changes. Filers claiming residential energy credits, depreciation of property, or general business credits may not be able to file until a later date, which will be announced later on by the IRS.

View the full listing of the forms that won’t be accepted until later is available on the IRS website. For more information on tax delays, call Smith, Kunz and Associates at (208) 356-8500. We are happy to answer any questions you have!