Tax question for those that itemize

[luvmy3jewels]

I'm hoping someone on this board may know the answer to this question. I know that the IRS is telling people that itemize their deductions they won't be able to file their taxes until mid-late Feb due to the last minute changes in tax laws. My question is, is it OK to go ahead and fill out the forms using a tax software (specifically TaxAct.com) and hold on to them until the IRS gives the go ahead to file or should I hold off completely in filling the forms out until the IRS gets everything straight.

I've searched the TaxAct site and can't find any answers to this question. Thanks!!

 

[DVCBELLE]

I use Turbo Tax and they said they are ready to go and we can go ahead and file and then they will submit them to the IRS when they are ready.

I would imagine this is the case with most programs. It is okay to go ahead and fill out your forms. Then if there are any adjustments then TaxAct will make them through program updates. Not surprisingly though -it seems like the private companies have been able to have their tax changes made long before the federal government will...

 

[tar heel]

In answer to the OP's question, you can start your forms any time you want and file when is convenient right up until April 15. The forms are for your eyes only until you press the button and file them. I ALWAYS do the easy part of ours early just to get an idea of how much we owe, then I complete them in April. This also is not the first time the college tuition credit info. has been delayed.

You can even do your taxes in multiple programs (Turbo Tax, Tax Act, etc.) if you want to -- just pick only one to file.

 

[Brer Shay]

The major tax software programs (TurboTax, TaxAct..) and preparer's (Hewitt, Block..) all say that it is okay to go ahead and complete the forms as long as you have all of the information and just hold on the filing until the IRS says they are ready. Why they could handle the change quickly and the IRS couldn't I can't explain.

http://turbotax.intuit.com/support/...Helps-with-IRS-Processing-Delay/GEN80443.html