IRS order to wait puts additional pressure on accounting firms
AccountingWEBJanuary 10, 2011 — 192 views
The Internal Revenue Service has announced that taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to file their individual tax returns, as do those taxpayers who itemize deductions on Form 1040 Schedule A.
The IRS will need to reprogram its processing systems for three provisions that were extended in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on December 17. The start of the 2011 filing season will begin in January for the majority of taxpayers, according to the agency.
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