The IRS announced January 20, 2011 that they will begin accepting paper and efile tax returns that have Schedule A itemized deductions beginning February 14, 2001.
Initially the IRS had announced a delay for returns with itemized deduction of late February. I was fearing early March and had visions of getting all my clients finished in only 6 weeks! This is good news for me!
The IRS needed the extra time to update its systems to accommodate the tax law changes without disrupting other operations tied to the filing season. The delay followed the Dec. 17 enactment of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which extended a number of expiring provisions including the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction. (http://www.natptax.com)
Happy filing!
Carol Topp, CPA
There is no reason why our government shouldint have been more prepared for the 2010 tax time. Its there job to be on top of this and the fact of the matter is they dont care if it was taken care of well before tax time or right up to tax time. Their pays the same.who cares right?
I am certain that I am not the only one who sees this delay in processing refunds as total unpreparedness by the our government. A few years ago my husband did not file his return, he was owed a refund so did not think much about it. Time went on and it was just not really one of those things that we thought about. Plus the paperwork was in disaray so last year I was finally able to get everything together and decided that I would take care of it. Well unfortunately we never knew the IRS has a 3 year statute of limitations, so therefore we were unable to recoop the refund. It was not a large amount maybe a 1000.00 but I still think it is ridiculas that they expect us to make sure we follow all of there rules, but they cannot even prepare for something that they are very well aware is going to happen every year in no less a disastrous economy where this money can mean a lot to someone especially right now. Would it have have been so difficult to allow the refund to be processed and then send additional refunds like they did a few years ago. This is just one more things that I feel is most likely a result of the inability of the Obama adminstration and their ineffective leadership.