WHILE the 2011 tax season kicked off last January 14th, a huge portion of American taxpayers, estimated at around 50 million (accounts to about one-third of taxpayers), won’t be able to file until mid- to late February.
Due to recent tax law changes, the IRS has delayed processing of all electronic and paper returns for those taxpayers claiming the following deductions:
– Education Expenses
– Tuition and Fees Deduction
– General Sales Tax
– Itemized Deductions
– Casualties and Thefts
– District of Columbia First-Time Homebuyer Credit
– General Business Credit
– First-Time Homebuyer Credit and Repayment of the Credit
– Alcohol and Cellulosic Biofuel Fuels Credit
– Qualified Electric and Plug-in Electric Vehicle Credit
– Alternative Motor Vehicle Credit
– Qualified Plug-in Electric Drive Motor Vehicle Credit
This should not impact taxpayers who don’t claim any of the above. About two-thirds of taxpayers filing standard deductions will be able to get their refunds on schedule, the earliest of which is January 28, 2011, if E-filing.
If you’re one of the taxpayers affected by the change, you can begin working on your tax return as soon as you receive your tax forms and other documents in the mail. Your tax preparer, depending on the tax software provider, can submit your return but it won’t be submitted to the IRS until further announcement by the agency.
In essence, if you’re due a refund, it may take some time for the IRS to process it this year.
Should you have any questions regarding filing your returns, my office will be glad to assist.
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Evangeline is a California registered tax preparer, a legal document assistant for the general public, and a freelance paralegal offering assistance to various attorneys. She can be reached at her office at 2451 Colorado Blvd. #2, Eagle Rock, CA 90041 or at her marketing location inside the Eagle Rock Plaza. Her phone number is (323) 550-1869 or you can check her website at: www.evangelinegiron.net. She is a member of the court-endorsed California Association of Legal Document Assistant (CALDA) and an Associate Member (Non-attorney) of the LA County Bar Association (LACBA).
(Advertising Supplement)
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