PSA on Tax Return Filing for 2012 Returns

[Claire&TheBoys]

I know tax returns and refunds are a hot topic on the Budget Board this time of year, so I wanted to pass along some information I learned this week.

First, returns cannot be filed before Jan. 30. And the more complicated returns won't be able to be filed until late Feb/early March (those with depreciation or energy credits).

http://www.irs.gov/uac/Newsroom/IRS-Plans-Jan.-30-Tax-Season-Opening-For-1040-Filers

Second, the IRS is *not* releasing a Refund Schedule this year. What I heard at work is "you'll get it when you get it." They are supposedly trying to be more diligent about preventing fraud, which is a good thing, IMO.

Hope this information is helpful!

 

[*Seanaci*]

Edit. Ooops. Just read the link. Deleted response.

Normally, don't businesses have until the 31st Jan to postmark/mail tax forms anyhow? The delayed opening if tax season doesn't affect us...as we wait until the 2nd week of Feb anyhow to start filing (it usually ensures we have all the forms we need in order to file true numbers vs guesstimates).

 

[vacationer1954]

We've sometimes gotten all our tax statements prior to January 30 but not often.

 

[Jenny3]

We will take advantage of the energy credit this year - glad to see they increased the max to $1500

I'm okay with filing later in the Spring; we usually do anyway, as our taxes are complicated and time consuming!

 

[brergnat]

I just logged onto my Turbo Tax return and they said the IRS will begin accepting and processing electronic returns on Jan 22. I could file today, if I wanted. But, I am waiting until I can file my state return at the same time (on the 19th those forms will be ready).

 

[happygirl]

I just logged onto my Turbo Tax return and they said the IRS will begin accepting and processing electronic returns on Jan 22. I could file today, if I wanted. But, I am waiting until I can file my state return at the same time (on the 19th those forms will be ready).

This

OP I think you have been given some wrong info

And for the return date, I believe that you are wrong as well. The IRS is doing a three part where my refund. One will tell you your if they have recieved your refund. 2nd step is If it been processed, 3rd is when you can expect your refund.

 

[heartsy77]

Agh we have a residential energy credit this year! It's only 479$$ I could not claim the credit, but I don't know if it is worth the wait or not! This is the only form holding us up; we don't need the $$$ but I would prefer not use my cc for our DL trip!

 

[wiigirl]

We've sometimes gotten all our tax statements prior to January 30 but not often.

I always say I am but it always seems to be last minute

 

[Claire&TheBoys]

I just logged onto my Turbo Tax return and they said the IRS will begin accepting and processing electronic returns on Jan 22. I could file today, if I wanted. But, I am waiting until I can file my state return at the same time (on the 19th those forms will be ready).

This

OP I think you have been given some wrong info

And for the return date, I believe that you are wrong as well. The IRS is doing a three part where my refund. One will tell you your if they have recieved your refund. 2nd step is If it been processed, 3rd is when you can expect your refund.

The IRS bulletin from earlier this week that I linked to in my OP says they will not process returns until 1/30. It seems to me that if the IRS says it's 1/30, it doesn't really matter what TurboTax says.

I never said they were not going to tell you when your refund would come - I said they are not going to publish a "timeline" as they have in the past, i.e., "If your return is accepted between X day and Y day, you'll get your refund on Z day." In years past, the "refund schedule" has caused a lot of angst: "The refund schedule said I should get it on Friday, but the Where's My Refund site doesn't have a date!" Just trying to let people know that there is not going to be a certain schedule for depositing.

 

[happygirl]

The IRS bulletin from earlier this week that I linked to in my OP says they will not process returns until 1/30. It seems to me that if the IRS says it's 1/30, it doesn't really matter what TurboTax says.

I never said they were not going to tell you when your refund would come - I said they are not going to publish a "timeline" as they have in the past, i.e., "If your return is accepted between X day and Y day, you'll get your refund on Z day." In years past, the "refund schedule" has caused a lot of angst: "The refund schedule said I should get it on Friday, but the Where's My Refund site doesn't have a date!" Just trying to let people know that there is not going to be a certain schedule for depositing.

guess we will just have to wat and see

 

[It'sWDW4me]

I just logged onto my Turbo Tax return and they said the IRS will begin accepting and processing electronic returns on Jan 22. I could file today, if I wanted. But, I am waiting until I can file my state return at the same time (on the 19th those forms will be ready).

According to the link that OP posted, the IRS intended to start processing on Jan 22. Apparantly, that date has been pushed to Jan 30. TurboTax will probably be updating their information soon.

Doesn't look like this will affect me too much. I usually send my no-frills, no-thrills (I don't even need Schedule A anymore now that my mortgage interest paid is next to nothing) return electronically at the beginning of February.

 

[ENSOCK]

I did Turbotax last night and they said it will not be available until 1/10/13. That is today!

 

[daughtersrus]

Reuters news agency is reporting the same date at the OP, January 30,2013.

The article from the Chicago Tribune http://www.chicagotribune.com/sns-rt-usa-taxirs-update-2l1e9c8amu-20130108,0,278160.story

WASHINGTON, Jan 8 (Reuters) - The U.S. Internal Revenue
Service said on Tuesday it will begin accepting 2012 tax filings
on Jan. 30, eight days later than originally planned, meaning
millions of early-filing taxpayers will have to wait until
February at the earliest for a refund.

More than 120 million households should be able to start
filing tax returns on Jan. 30, the agency said.

"This date ensures we have the time we need to update and
test our processing systems," IRS acting Commissioner Steven
Miller said in a statement.

The delay stems from the Jan. 2 enactment of tax law changes
made to resolve the "fiscal cliff," the package of automatic tax
increases and federal spending cuts scheduled to start in the
new year until averted by last-minute legislation...