2013 Tax Return Processing
IRS, formally known as the Internal Revenue Service, announced the 2013 filing season will open on January 30. Individual income tax returns will not be reviewed until this date.
The IRS previously planned on allowing individuals to take part in electronic filing eight days earlier, on January 22. The US congress approved new tax laws which in turn has delayed the start date for filing. The new tax laws are due to the fact the US has been faced with great financial difficulties. ATRA, an abbreviation for the American Taxpayer Relief Act, is the bill that was formed and agreed upon between the president and House of Representatives republicans.
The IRS is busy updating tax forms and “completing programming and testing of its processing systems.” The update and intended improvements should allow the majority of US tax payers to file their tax returns starting January 30. Some individuals will need additional forms pertaining to business credits, energy credit claims, and property depreciation when filing. People who need to file regarding these issues can do so in late February or early March.
Steven Miller, commissioner of the IRS has expressed the IRS has worked hard to start tax season as soon as possible. He continued to say the January 30 date allows ample time for IRS to update their own processing systems. The IRS also made it clear that tax payers who file electronically receive refunds quicker than those who mail in paper forms.