Fiscal cliff to delay processing of tax returns

8:51 PM, Jan 9, 2013   |    comments
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(DETROIT FREE PRESS) - The Internal Revenue Service said today that it will begin processing individual tax returns on Jan. 30 -- roughly a week later than some tax experts had expected.

The delay reflects some of the last-minute changes enacted by Congress in early January under the American Taxpayer Relief Act.

Some taxpayers won't even be able to file Jan. 30, though.

Taxpayers who file some special forms will have to wait until late February or March for their returns to be accepted. The IRS said the late tax legislation requires more extensive programming and testing of IRS systems for certain forms.

Those key forms that face delays until next month or later include Form 5695 for the residential energy credits, Form 4562 depreciation and amortization and Form 3800 for the General Business Credit.

Other forms that won't be accepted until later will be listed at www.irs.gov.

A specific date will be announced in the future for when those forms will be accepted.

The IRS said the vast majority of tax filers -- more than 120 million households -- should be able to start filing tax returns starting Jan. 30.

 

Detroit Free Press

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