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IRS will accept returns Jan. 30

By Kay Bell ·
Wednesday, January 9, 2013
Posted: 11 am ET

Kudos to the Internal Revenue Service.

The agency says its 2013 tax filing season will open just eight days later than it had planned, on Wednesday, Jan. 30, instead of the original Jan. 22 opening day.

What exactly does that mean to Joe and Joan Taxpayer?

That even if you get your return into the IRS before then -- as recommended by representatives of TurboTax and H&R Block in my earlier post on a possible slight delay in the filing season -- the tax agency will not start processing it until Jan. 30.

That date applies whether you send in a paper return by mail or file electronically.

Of course, waiting to file is never fun if you're expecting a refund, but the IRS deserves lots of credit for being ready to process most tax returns by the end of the month. The agency had a massive job before it because Congress postponed action on tax laws that affect 2012 returns until Jan. 1.

And a few folks will have to wait a bit longer for the IRS to take care of their returns.

The IRS says that several forms affected by the late legislation require more extensive programming and testing of IRS systems. The key forms that require more extensive programming changes include Form 5695, used to claim residential energy tax credits; Form 4562, required to claim depreciation and amortization; and Form 3800 for the general business credit. A full list of the forms that will delay return acceptance is available on the IRS website.

If you need to submit any of these forms, the IRS won't start processing your return until late February or sometime in March. The IRS will announce a specific date for acceptance of affected tax filings "in the near future."

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January 10, 2013 at 10:20 am

Regarding Social Security Tax, most do not realize that you must pay income tax on your Social Security from gambling winnings even if you lose it all back. The winnings increased your income, therefore, the IRS does not care if you lose it back, it is still considered additional income made. If you do not lose it back you pay tax on the additional Social Security and also on the gambling winnings. Double taxation.