Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on January 30th.
The IRS will begin accepting tax returns on that date after updating forms and completing programming and testing of its processing systems. This will reflect the bulk of the late tax law changes enacted January 2nd. This announcement means that the vast majority of tax filers, more than 120 million households, should be able to start filing tax returns starting January 30th.
The IRS estimates that remaining households will be able to start filing in late February or early March because of the need for more extensive form and processing systems changes. This group includes people claiming residential energy credits, depreciation of property or general business credits.
The IRS will not process paper tax returns before the anticipated January 30th opening date. There is no advantage to filing on paper before the opening date, and taxpayers will receive their tax refunds much faster by using e-file with direct deposit.
The Internal Revenue Service also announced that its modernized eFile system has begun accepting the following business tax returns:
• Fiscal year returns with a year ending prior to 12/31/2012
• All 2011 tax year and 2012 fiscal year business returns, including Form 1120 series
• 2012 tax year Form 2290, Heavy Highway Vehicle Use Tax Return
• 2012 tax year Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information and Other Returns
• Form 8868, Application for Extension of Time To File an Exempt Organization Return