On January 30, the IRS officially opened tax season and began accepting many e-filed returns. Not all returns can be e-filed at this point, though. Returns with education credits and energy credits are just some of the many returns that will have to wait until mid-February or even March before they can be accepted. Additionally, some Corporate and Partnership forms are still pending approval before those returns can be filed.
In our segment, Tax Tips Tuesday on First Coast Living, we discuss these delays and some of the tax law changes that came through with the Fiscal Cliff. First Coast Living is a First Coast News show on WTLV Channel 12 and WJXX Channel 25 in Jacksonville, covering Northeast Florida and portions of South Georgia. Click below to see the January 29th edition of Tax Tips Tuesday on First Coast Living.
The ongoing delays at the IRS stem from the unusually late date at which we received 2012’s tax law–it released officially as part of the American Taxpayer Relief Act on January 2. The timing of the Act had a domino effect, causing software programming delays at the IRS, as well as for commercial tax software developers. GunnChamberlain will be able to complete the preparation of returns on or before the acceptance dates published by the IRS; however, we cannot release or e-file returns until those dates as the IRS’ systems will reject those filings. Even so, we recommend our clients continue to send us their tax data as early as possible so that we can continue to provide the service level to which they are accustomed.