JRS Posted January 20, 2011 Report Share Posted January 20, 2011 WASHINGTON — The Internal Revenue Service plans a Feb. 14 start date for processing tax returns delayed by last month’s tax law changes. The IRS reminded taxpayers affected by the delay they can begin preparing their tax returns immediately because many software providers are ready now to accept these returns. Beginning Feb. 14, the IRS will start processing both paper and e-filed returns claiming itemized deductions on Schedule A, the higher education tuition and fees deduction on Form 8917 and the educator expenses deduction. Based on filings last year, about nine million tax returns claimed any of these deductions on returns received by the IRS before Feb. 14. People using e-file for these delayed forms can get a head start because many major software providers have announced they will accept these impacted returns immediately. The software providers will hold onto the returns and then electronically submit them after the IRS systems open on Feb. 14 for the delayed forms. Taxpayers using commercial software can check with their providers for specific instructions. Those who use a paid tax preparer should check with their preparer, who also may be holding returns until the updates are complete. Most other returns, including those claiming the Earned Income Tax Credit (EITC), education tax credits, child tax credit and other popular tax breaks, can be filed as normal, immediately. The IRS needed the extra time to update its systems to accommodate the tax law changes without disrupting other operations tied to the filing season. The delay followed the Dec. 17 enactment of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which extended a number of expiring provisions including the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 21, 2011 Report Share Posted January 21, 2011 Regardless of what the notice from the IRS says, I am NOT filing any of the listed returns until Feb. 15. Too many horror stories in the past about such things. Let all the people who need to be the fastest and the first have all the bugs (and there WILL be horror stories and bugs!!) Just my rant. Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted January 21, 2011 Report Share Posted January 21, 2011 Isn't this kind of ridiculous? So essentially most homeowners must wait until Feb. 14 correct? Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 21, 2011 Report Share Posted January 21, 2011 What is going to be ridiculous is the smell of smoke coming from the IRS servers on Feb 14th. About 5 million returns are going to hit their servers and they are going to melt. I predict it will take until the end of February for the mess with Acks from Feb 14th to get resolved. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 21, 2011 Report Share Posted January 21, 2011 Isn't this kind of ridiculous? So essentially most homeowners must wait until Feb. 14 correct? You are correct. Write your Congressman and your Senators. They caused this fiasco. Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted January 21, 2011 Report Share Posted January 21, 2011 According to the IRS Tax Refund schedule, e-files transmitted and accepted between Feb. 10-17 by 11am will all be deposited on Feb. 25 anyway, so it would make no sense to try to e-file on Feb. 14. Better to wait a day or two and allow the rush to subside. Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted January 22, 2011 Report Share Posted January 22, 2011 Anyone remember the last time the IRS servers went into melt down mode the second day of filing due to the huge amount of transmissions? I think it 2003 which is the same year there was additional confusion with a child tax credit received during the year that followed the taxpayer and not the child. Took IRS until the end of January to get it fixed. With that said, I agree and I will not be transmitting those returns until the dust settles. Quote Link to comment Share on other sites More sharing options...
chuck Posted January 22, 2011 Report Share Posted January 22, 2011 Anyone remember the last time the IRS servers went into melt down mode the second day of filing due to the huge amount of transmissions? I think it 2003 which is the same year there was additional confusion with a child tax credit received during the year that followed the taxpayer and not the child. Took IRS until the end of January to get it fixed. With that said, I agree and I will not be transmitting those returns until the dust settles. Open the flood gates and let the problems start. I concur waiting a day or two could be a great idea. Quote Link to comment Share on other sites More sharing options...
neilbrink Posted January 22, 2011 Report Share Posted January 22, 2011 You are correct. Write your Congressman and your Senators. They caused this fiasco. I would write to my Congressman, but he is not around anymore. I would write to my Senators, but one of them is not around anymore. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 22, 2011 Report Share Posted January 22, 2011 Feburary 14, 2011..... THE SAINT VALENTINES DAY MASSACRE! Over 5 million casualties. Months of blame and finger pointing. No prosecutions, indictments, or justice in the end. Sound like the script from a mob movie? It is just your IRS and congress at work again. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 22, 2011 Report Share Posted January 22, 2011 I would write to my Congressman, but he is not around anymore. I would write to my Senators, but one of them is not around anymore. Did you vote in the last election?? Quote Link to comment Share on other sites More sharing options...
GeneInAlabama Posted January 23, 2011 Report Share Posted January 23, 2011 Open the flood gates and let the problems start. I concur waiting a day or two could be a great idea. So the meltdown could occur a day or two after the 14th since everyone is waiting. :lol: Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted January 23, 2011 Report Share Posted January 23, 2011 Well wouldn't that be the thing. We all are trying to play it safe and get hit anyway. Kinda called shooting oneself in the foot. :rolleyes: Quote Link to comment Share on other sites More sharing options...
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