With all the changes passed by Congress on January 2nd, the IRS has been hard at it implementing all the changes that effect your tax returns.
The IRS recently announced that following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), it plans to open the 2013 filing season and begin processing individual income tax returns on January 30th.
The majority of taxpayers will be able to file on January 30th, but the IRS still has work to do that may affect when we are able to file your tax returns. The IRS estimates that the remaining changes will be completed in late February or early March. The remaining changes effect the residential energy credits (Form 5695), depreciation of property (Form 4562) or general business credits (Form 3800).
We will keep you posted as the IRS publishes more information about their processing schedule and capability. If you have any questions about how this effects your specific situation, please do not hesitate to contact us.