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Further Delays From Dear Old Uncle Sam

Further delays in filing your income taxes if you need to file certain forms.

The IRS began accepting personal income tax returns on January 30th after a delay of 8 days due to the late passing of the American Tax Relief Act.  This, like many things from the IRS, has an asterisk…because if you need to file certain forms, your income tax returns can not be filed at this time and won’t be available until late February or early March.

This includes a variety of forms, but mainly depreciation (which affects 90% of small businesses) and residential energy credits. 

I advise all of you to take this additional time and gather all of your documents now…and be ready to file when the IRS gets their act together.

Also, your tax preparer can still meet with you and prepare your taxes so that you know what your refund is (or what you possibly owe)...so that you can plan accordingly. He/she just can't file them with the IRS at this time.

Here is a list of the forms that aren’t ready to be filed according to the IRS… 

http://www.irs.gov/uac/Newsroom/List-of-IRS-forms-that-1040-filers-can-begin-filing-in-late-February-or-into-March-2013

 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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