The January tax law changes Congress made under the American
Taxpayer Relief Act has changed a few things for this year's tax season.
The Internal Revenue Service announced Jan. 8 that it would
open the 2013 filing season and begin processing individual income tax returns
Jan. 30.
The IRS has been updating forms and completing the
programming and testing of its processing systems to reflect the bulk of the
late tax law changes that were enacted Jan. 2.
According to the IRS, the vast majority of tax filers – more
than 2 million households – should be able to start filing tax returns Jan. 30.
The remaining households will be able to start filing in
late February or March because of the more extensive form and processing
systems changes that are necessary. According to the IRS, that group includes
people who claim residential energy credits, depreciation of property or
general business credits, and those tax returns are usually more complex, so
they are typically filed closer to the April 15 deadline, or filers request
extensions.
"We have worked hard to open tax season as soon as possible,"
IRS Acting Commissioner Steven Miller said in a news release. "This date
ensures we have the time we need to update and test our processing systems."
Miller also reiterated that taxpayers' best option is to
file electronically for faster refunds, and there is no advantage to filing on
paper before the Jan. 30 opening date.
More than 80 percent of taxpayers filed electronically last
year, according to the IRS.
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