The Internal Revenue Service announced yesterday that it has delayed the opening day of the 2013 tax filing season for the 2012 individual tax returns to January 30, more than a week after the initially planned start date of January 22. It could be worse however for certain taxpayers.
The reason for the delay is the very late passage of the fiscal cliff legislation by Congress. The Internal Revenue Service needs the extra time to update their forms and complete the programming and testing of its computer system.
If you claim residential energy credits, depreciation of property or general business credits it may be until late February or into March before the IRS finishes the extensive forms and processing system changes. An exact date will be announced later. The depreciation of property could affect those individuals with Schedule C Sole Proprietor or Schedule E rental property.
This delay goes for both E-filing and paper returns. The IRS says this delay does not affect Corporate or Partnership tax returns.
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