33°F
Sponsored by

IRS accepting tax returns eight-days later because of Fiscal Cliff delays

Tax law changes also delay issuance of paper tax forms and instructions
GREEN BAY (WFRV) The 20-12 tax season started slowly at Liberty Tax Service. New tax regulations were still being written after January First. So many completed return had to be put on hold until Wednesday.

"We can do the return. We can do everything that needs to be done except submit it to the IRS. At midnight this Wednesday they'll begin accepting them. People will have to return here to sign their forms," said Heidi Larios, of Liberty Tax Service in Green Bay.

Those who prepared their returns on-line or through tax services won't have to redo them. The I-R-S says computer programs for most returns were designed with changes in mind. But those who file paper returns will be delayed a bit longer. The 10-40 forms and instructions are still being printed up. That leaves post offices and libraries waiting for word on delivery dates.

"They have a website that shows when the tax forms are going to be publish. Then seven-to-ten days later we can expect them. So we've been watching that pretty closely," said Chad Robinson, Brown County Library Assistant.

But some taxpayers, whether they file electronically or by paper, are being asked wait until February or March to file for for certain deductions and credits.

"If you are claiming residential energy credits or depreciation of property or general business credits or education credits, using Form 8863," said Christopher Miller, IRS spokesman.

Farmers are also getting a break because of the delay in adopting new tax regulations. Instead of filing their returns by March 15, farmers are being allow to file by April 15th.

Local 5's Terry Kovarik has the story.

Page: [[$index + 1]]
comments powered by Disqus
Find more Local News Feeds here:
facebook.pngtwittericon.pngrss-icon.png

Facebook Activity