IRS announces Tax Season is open Jan 30th 2013

Monday, January 28, 2013

The Internal Revenue Service announced its plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30 for 1040 filers.  See link below for more details.

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 so there is no advantage to filing on paper before the opening date.  Taxpayers will receive their tax refunds much faster by using e-file with direct deposit.

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.

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.

If you are purchasing or refinancing your home this could have an impact on you if your 4506t results are delayed.   Please contact The Covenant Team of Service First Mortgage for more details.    

News brought to you by The Covenant Team of Service First Mortgage

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