Following the January tax law
changes made by Congress under the American Taxpayer Relief Act (ATRA), the
Internal Revenue Service announced today it plans to open the 2013 filing
season and begin processing individual income tax returns on Jan. 30.
The IRS will begin accepting tax
returns on that date after updating forms and completing programming and
testing of its processing systems. This will reflect the bulk of the late tax
law changes enacted Jan. 2. The announcement means that the vast majority of
tax filers — more than 120 million households — should be able to start filing
tax returns starting Jan 30.
The IRS estimates that remaining
households will be able to start filing in late February or into March because
of the need for more extensive form and processing systems changes. This group
includes people claiming residential energy credits, depreciation of property or
general business credits. Most of those in this group file more complex tax
returns and typically file closer to the April 15 deadline or obtain an
extension.
The IRS will not process paper tax
returns before the anticipated Jan. 30 opening date. 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.
The opening of the filing season
follows passage by Congress of an extensive set of tax changes in ATRA on Jan.
1, 2013, with many affecting tax returns for 2012. While the IRS worked to
anticipate the late tax law changes as much as possible, the final law required
that the IRS update forms and instructions as well as make critical processing system
adjustments before it can begin accepting tax returns.
The IRS originally planned to open
electronic filing this year on Jan. 22; more than 80 percent of taxpayers filed
electronically last year.
Who Can File Starting Jan. 30?
The IRS anticipates that the vast
majority of all taxpayers can file starting Jan. 30, regardless of whether they
file electronically or on paper. The IRS will be able to accept tax returns
affected by the late Alternative Minimum Tax (AMT) patch as well as the three
major “extender” provisions for people claiming the state and local sales tax
deduction, higher education tuition and fees deduction and educator expenses
deduction.
Who Can’t File Until Later?
There are several forms affected by
the late legislation that require more extensive programming and testing of IRS
systems. The IRS hopes to begin accepting tax returns including these tax forms
between late February and into March; a specific date will be announced in the
near future.
The key forms that require more
extensive programming changes include Form 5695 (Residential Energy Credits),
Form 4562 (Depreciation and Amortization) and Form 3800 (General Business
Credit). A full listing of the forms that won’t be accepted until later
is available on IRS.gov.
As part of this effort, the IRS will
be working closely with the tax software industry and tax professional community
to minimize delays and ensure as smooth a tax season as possible under the
circumstances.
IRS Circular 230 Disclosure
Pursuant to the requirements of the Internal Revenue Service Circular 230, we inform you that, to the extent any advice relating to a Federal tax issue is contained in this communication, including in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax related penalties that may be imposed on you or any other person under the Internal Revenue Code, or (b) promoting, marketing or recommending to another person any transaction or matter addressed in this communication.
Pursuant to the requirements of the Internal Revenue Service Circular 230, we inform you that, to the extent any advice relating to a Federal tax issue is contained in this communication, including in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax related penalties that may be imposed on you or any other person under the Internal Revenue Code, or (b) promoting, marketing or recommending to another person any transaction or matter addressed in this communication.
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