Good things come to those who wait, right?
It turns out that tax season won’t begin on January 22, 2013, after all – not that we expected as much. The Internal Revenue Service has announced that it has revised its opening date for tax season, pushing it out just eight days to January 30, 2013. That’s fairly remarkable (and kudos to IRS for bouncing back from a Congress-induced setback so quickly).
What this means is that the IRS will begin accepting tax returns on January 30, 2013. Most taxpayers should be able to file on that date though some taxpayers will have to wait a bit for revised forms. Those include folks claiming residential energy credits, depreciation of property or general business credits. The specific forms affected include federal form 5695 (Residential Energy Credits), federal form 4562 (Depreciation and Amortization), and federal form 3800 (General Business Credit).
But realistically, those are the folks who file closer to April 15 anyway (or like former presidential candidate Mitt Romney and me, tend to file for extension).
IRS Acting Commissioner Steven T. Miller should get a huge pat on the back for scrambling to “save” the tax season in this manner. Many tax professionals, myself included, expected a much longer delay in processing.
In terms of timing, please note that the IRS will not process paper tax returns before tax season opens on January 30, 2013. Don’t even try it, folks. You’re just begging to be disappointed. Do remember, however, that you will receive your tax refund much faster if you use a combination of e-file and direct deposit.
My advice? Keep watching this space (of course) for more updates on filing dates and be patient. Your tax professional isn’t to blame for the delay. And the IRS isn’t to blame. Congress is – for pushing a major tax package through after the new year
So please, be patient and be kind. If you want to go on record as being really, really annoyed for a delay in your refund, just make sure that you direct it to the right folks. Start here: contact your representative in Congress.
