On Wednesday the IRS began accepting most individual tax returns and opened their electronic filing systems.
Unfortunately, the IRS has still not indicated when they might be ready to accept partnership and corporate tax returns. There are some key forms that need to be updated. However, the IRS has indicated that these revisions, due to the late adoption of the American Taxpayer Relief Act on January 1st, will not be ready until mid-February or early-March. Calendar year business returns are due by March 15th, so this will not leave us much time to file.
We strongly recommend that you get your information together as soon as possible to prevent any additional processing delays. We will hold your returns in our queue until the IRS gives us the green light. Once we have specific dates and details, we will give you a more specific update.
If you have any questions regarding the impact of this delay on your specific situation, please do not hesitate to contact us.