Thursday, January 31, 2013

Further 2012 Filing Delays

The IRS announced today a further delay in processing returns that contain Form 8863, Education Credits, which must be filed by people claiming the American opportunity and the lifetime learning tax credits.

During testing, the IRS discovered that programming modifications must be made before the form can be processed correctly so returns that include the form cannot be filed until mid-February.

The IRS also noted that its website contains a list of 30 other forms, including the deprecation form used by most small business owners and real estate investors, that cannot be filed yet because the forms must be updated and systems for processing them tested.

A date will be announced when returns containing these forms will be accepted, but that date will probably be late February or sometime in March.