WASHINGTON - The Internal Revenue Service announced on Dec. 23 that upcoming tax season will start on time for most people, but taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to file their individual tax returns.
Taxpayers who itemize deductions on Form 1040 Schedule A will need to wait until mid- to late February to file, according to the IRS. The IRS will need to reprogram its processing systems for three provisions that were extended in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17, according to the IRS.
Those claiming any of these three items -- involving the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction as well as those taxpayers who itemize deductions on Form 1040 Schedule A -- will need to wait to file their tax returns until tax processing systems are ready, which the IRS estimates will be in mid- to late February.
The IRS will announce a specific date in the near future when it can start processing tax returns impacted by the late tax law changes. Taypayers affected by those categories can start working on their tax returns, but they should not submit their returns until IRS systems are ready to process the new tax law changes.
The delay affects both paper filers and electronic filers.