News

IRS delayed in taking returns due to fiscal cliff deal

Written by Craig Layne and Radio Pennsylvania | Jan 16, 2013 3:59 AM
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(Newark, Del.) -- The Internal Revenue Service is letting taxpayers know that it isn't ready to process returns for early bird tax filers.

Congress' wrangling over the last-minute deal to avoid the so-called "fiscal cliff" means the IRS will need more time to get its system ready to handle returns.

It needs until January 30, eight days later than usual, to get computers and forms updated with the latest pieces of the federal tax code.

David Stewart is an IRS spokesman for the region that includes Pennsylvania.

He says the delay should not cause problems.

"This is something that's not new for us. We're prepared for it," Stewart says. "We had nine out of 10 refunds out the door in 21 days or less last year, and we expect the same thing to happen this year."

Stewart says about 80 percent of taxpayers should be able to start filing their returns on January 30.

The others may have to wait until February or March if they are claiming credits for things like businesses, renewable energy, and depreciation of property.

The April 15 filing deadline has not changed.

Get a midstate Certified Public Accountant's take on the delay with witf's MoneyWorks series.

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