Deb's Photo

Deb's Photo

Friday, January 7, 2011

No need to rush!

One of my New Year's resolutions (which I don't formally track!) is to stop rushing. Well, for those of you who like to get your tax returns filed early and beat the rush...no need to rush! The IRS has to update its computer programs to process the last minute tax changes. Here's the official word from the IRS:

The IRS has announced that it will need time to reprogram its processing systems for the three provisions that were extended with the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Specifically this means that anyone claiming the state and local sales tax deductions, higher education tuition and fees deductions, educator expense deductions, or any taxpayer that itemizes deductions via a Schedule A, will need to wait to file their tax returns until the processing system is ready, which the IRS projects will be completed in mid- to late February.

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