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Wednesday, February 2, 2011

Filing of Certain Tax Returns Delayed Until February 14th

Due to recent tax law changes, the IRS will not accept 2010 personal income tax returns (paper or e-file) until February 14, 2011. According to the IRS, the affected returns are those claiming itemized deductions on Schedule A, the higher education tuition and fees deduction on Form 8917 and the educator expenses deduction. Many taxpayers claim itemized deductions (mortgage interest, property taxes, medical expenses, charitable contributions, etc.), so this affects a large number of filers.

You may still have your tax preparer start on your returns now, but they may not be processed and filed until the 14th. This also delays any refunds until after that date.

If you need someone to do your taxes, why not call me at 847-955-9000.
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