IRS To Start Accepting Tax Returns On Wednesday
|By Marjorie Hernandez, Ventura County Star, Calif.|
Millions of taxpayers who have their W-2s and are ready to file returns will have to wait a little longer for refunds this year.
"Normally we would file returns as early as last week, but we have already met with some of our clients who can't even file electronically until
Most returns, including those claiming education tax credits and the Earned Income Tax Credit, can be filed at the end of this month. Those using more complex forms might have to wait longer. This group includes people claiming residential energy credits, depreciation of property or general business credits, Pyne said.
Most taxpayers in this group typically file closer to the
Although most of the legislation enacted last month to avoid the "fiscal cliff" won't affect 2012 tax returns, other changes could affect some families and individuals, financial experts said.
This year, taxpayers with individual retirement accounts still have some time to make tax-free transfers to eligible charities, which could still count for the 2012 filing year.
The tax-free transfers, which were supposed to have expired
"There's no need to wait until the 30th," Greene-Lewis said. "You want to be the first in line for transmission since tax returns are processed on a first-in, first-out basis."
To make filing go smoothly, taxpayers should make sure they use correct
The Child Tax Credit can be worth up to
"These are huge tax credits, which help taxpayers keep more of the money they're entitled to," Greene-Lewis said.
(c)2013 Ventura County Star (Camarillo, Calif.)
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|Source:||McClatchy-Tribune Information Services|