If you were expecting to file your 2010 Form 1040 tax return in January or early February to get that expected refund ASAP, our lame Congress (oops, I meant to say lame duck Congress) may have skewered the American taxpayer again. The IRS announced that while the upcoming tax season will start on time for most people (those who claim the standard deduction), taxpayers who itemize will need to wait until mid- to late February to file their individual tax returns. Why? Because by waiting until late December to pass the tax legislation, our lame Congress (oops I unintentionally did it again – I meant to say lame-duck Congress) the IRS needs to reprogram its processing systems and revise its tax forms to reflect the tax law changes.
IRS Commissioner Doug Shulman said “ The IRS will work through the holidays and into the New Year to get our systems reprogrammed and ensure taxpayers have a smooth tax season.” Yeh, I’m sure the IRS employees will be most productive working during the holiday season knowing that the Senate and House members are enjoying their extended holiday.
The IRS will announce a specific date in the near future when it can start processing tax returns impacted by the late tax law changes. In the interim, people affected by the tax law changes can start working on their tax returns, but they should not submit their returns until IRS systems are ready to process the new tax law changes.
IRS Announcement IR-12010-126 can be read by clicking here.