Paycheck Chronicles

Tax Filing Starts 30 January 2013

.

With a slew of last-minute tax changes to accommodate, the Internal Revenue Service (IRS) has moved it's anticipated opening of the tax filing season from 22 January 2013 to 30 January 2013.

Tax filers are encouraged to wait until 3o January and submit their returns electronically.  Paper returns received before the opening of the filing season will not be processed until the season opens.  "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."

Some taxpayers will have to wait even longer to file, as their returns include specifically challenging forms.  The top forms that require delayed filing include:

  • Form 5695, Residential Energy Credit
  • Form 4562, Depreciation and Amortization
  • Form 3800, General Business Credit
A full list of the affected forms can be found at the IRS website.

I actually love this change, as more people will have their actual W-2s in hand, and at least some corrected W-2s will have been received.  I think it will result in fewer amended returns from people who rushed to file early and then discovered a missing piece of information.

Start collecting those documents now, and it should be fast and easy come 30 January.

Show Full Article

Related Topics

PayCheck Chronicles

November is Military Family Appreciation Month

More from Paycheck Chronicles

View more

Most Recent Military Pay Articles

View more