IRS Delays Start of Filing Season
The American Taxpayer Relief Act of 2012, enacted to avoid the “fiscal cliff,” became law last week. Because this law was enacted so close to the start of the tax filing season has created difficulties for the IRS. It will cause a delay in the start of the IRS filing season. However, many individual returns can be processed by the IRS starting on January 30, 2013. The start of the business return filing season has been delayed to a future date yet to be determined by the IRS.
Even though the IRS is still in the process of updating their forms to reflect changes from the legislation, it is critically important that you do not delay sending us your tax return information. Many of you have likely already received a tax organizer. As soon as you have completed (or mostly completed) it, please send it in. The reason is it allows us to review the information and determine what additional data is needed. That helps ensure everything is ready to go when the IRS forms are updated and your return can be processed.