Tax Changes Create Filing Delay
The IRS is warning taxpayers that it will not accept certain individual tax returns until mid to late February. This is after the changes made by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, enacted December 17, 2010. The IRS emphasizes that most taxpayers will be allowed to file in January. However, taxpayers who plan to benefit from itemized deductions or certain tax credits will have to wait until February to file. The IRS is expected to announce the exact date, when people affected by the new tax changes will be able to file their tax returns, in the next few weeks.