IRS To Start Accepting Most Returns By January 30

By January 9, 2013 Individuals

As the IRS sorts out the Fiscal Cliff changes, they have determined that they will be able to start accepting most returns starting January 30.  However, certain changes in the law will cause delays for some filers.  The IRS will need to adjust and test their systems before they begin accepting returns.  While this will delay some early refunds, our systems at GunnChamberlain are ready to go.

The IRS originally anticipated a long wait time for several types of returns if the Cliff deal had not gone through.  Since it has, returns with AMT, tuition and fees deductions, and the educator expense deduction for classroom supplies will all be able to start filing on January 30.

Taxpayers who won’t be able to file by then may include taxpayers with depreciation, business credits, residential energy credits, adoption credit, passive activity loss limitations, domestic production activities, and several other less common credits.  By the way, this means nearly all individuals with rental properties and many with single member, unincorporated businesses may not be able to file their returns until late February or March.

Here is a complete list of forms that are not expected to be ready for processing until February or March:

  • Form 3800 General Business Credit
  • Form 4136 Credit for Federal Tax Paid on Fuels
  • Form 4562 Depreciation and Amortization (Including Information on Listed Property)
  • Form 5074 Allocation of Individual Income Tax to Guam or the Commonwealth of the Northern Mariana Islands
  • Form 5471 Information Return of U.S. Persons With Respect to Certain Foreign Corporations
  • Form 5695 Residential Energy Credits
  • Form 5735 American Samoa Economic Development Credit
  • Form 5884 Work Opportunity Credit
  • Form 6478 Credit for Alcohol Used as Fuel
  • Form 6765 Credit for Increasing Research Activities
  • Form 8396 Mortgage Interest Credit
  • Form 8582 Passive Activity Loss Limitations
  • Form 8820 Orphan Drug Credit
  • Form 8834 Qualified Plug-in Electric and Electric Vehicle Credit
  • Form 8839 Qualified Adoption Expenses
  • Form 8844 Empowerment Zone and Renewal Community Employment Credit
  • Form 8845 Indian Employment Credit
  • Form 8859 District of Columbia First-Time Homebuyer Credit
  • Form 8864 Biodiesel and Renewable Diesel Fuels Credit
  • Form 8874 New Markets Credits
  • Form 8900 Qualified Railroad Track Maintenance Credit
  • Form 8903 Domestic Production Activities Deduction
  • Form 8908 Energy Efficient Home Credit
  • Form 8909 Energy Efficient Appliance Credit
  • Form 8910 Alternative Motor Vehicle Credit
  • Form 8911 Alternative Fuel Vehicle Refueling Property Credit
  • Form 8912 Credit to Holders of Tax Credit Bonds
  • Form 8923 Mine Rescue Team Training Credit
  • Form 8932 Credit for Employer Differential Wage Payments
  • Form 8936 Qualified Plug-in Electric Drive Motor Vehicle Credit