Monday, January 14, 2013

forget about that early refund, dude

The IRS has announced that, because of the timing of the last-minute tax law changes enacted by Congress on January 1, the Service will not be accepting any individual tax returns before January 30.  In addition, they cannot accept business returns that have depreciation deductions until well into February or maybe even March.

This is really bad news for somebody in my profession.  Bottlenecks will be the norm, followed by a flood of filings, which, come to think of it, I'm sure not sure the IRS system can handle.  Just don't count on that refund check until you see it.

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