Looking forward to getting your tax refund? You may have to wait for a little longer this year as the tax filing season will not start until Jan. 30, 2013.
The IRS announced on Jan. 8, 2013 that due to changes made by Congress under the American Taxpayer Relief Act (ATRA), the 2013 filing season will be delayed, with processing individual income tax returns slated to begin on Jan. 30 instead of Jan. 22.
Will tax refunds be delayed? Tax refunds will be processed as they have in the past, within approximately 21 days.
However, because you will have to file later, that vacation you planned to take, or bills you want to pay off with your refund check may need to be pushed out a week or so.
Of course, you can get your refund faster if you use direct deposit. TurboTax is offering free online e-filing now and they will transmit your return on the Jan. 30, 2013.
While more than 120 million households should be able to start filing tax returns starting on Jan. 30, there are others who will have to wait longer. Taxpayers who are filing certain forms may have to wait until February or March to file.
Those who file the Mortgage Interest Credit Form Form 8396; Residential Energy Credits Form 5696; General Business Credits Form 3800; Energy Efficient Home Credit Form 8098; or the Depreciation of Property Form 4562 will have to wait to file their taxes.
The IRS has not officially announced the date that taxpayers can file if they will be including any of these forms on their return. There are also additional forms that may delay filing. See all the forms on the list here on IRS.gov.
Source: IRS.gov press release