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 Jan. 30.
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 Jan. 2. The announcement means that the vast majority of tax filers–more than 120 million households–should be able to start filing tax returns starting Jan 30.
The IRS estimates that remaining households will be able to start filing in late February or into 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. Most of those in this group file more complex tax returns and typically file closer to the April 15 deadline or obtain an extension.
“We have worked hard to open tax season as soon as possible,” IRS Acting Commissioner Steven T. Miller said. “This date ensures we have the time we need to update and test our processing systems.”
The IRS will not process paper tax returns before the anticipated Jan. 30 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 best option for taxpayers is to file electronically,” Miller said.
The opening of the filing season follows passage by Congress of an extensive set of tax changes in ATRA on Jan. 1, 2013, with many affecting tax returns for 2012. While the IRS worked to anticipate the late tax law changes as much as possible, the final law required that the IRS update forms and instructions as well as make critical processing system adjustments before it can begin accepting tax returns.
The IRS originally planned to open electronic filing this year on Jan. 22; more than 80 percent of taxpayers filed electronically last year.
Who Can File Starting Jan. 30?
The IRS anticipates that the vast majority of all taxpayers can file starting Jan. 30, regardless of whether they file electronically or on paper. The IRS will be able to accept tax returns affected by the late Alternative Minimum Tax (AMT) patch as well as the three major “extender” provisions for people claiming the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction.
Who Can’t File Until Later?
There are several forms affected by the late legislation that require more extensive programming and testing of IRS systems. The IRS hopes to begin accepting tax returns including these tax forms between late February and into March; a specific date will be announced in the near future.
The key forms that require more extensive programming changes include Form 5695 (Residential Energy Credits), Form 4562 (Depreciation and Amortization) and Form 3800 (General Business Credit). A full listing of the forms that won’t be accepted until later is available on IRS.gov.
As part of this effort, the IRS will be working closely with the tax software industry and tax professional community to minimize delays and ensure as smooth a tax season as possible under the circumstances.
Updated information will be posted on IRS.gov.
The meaning of "flat tax" depends on what part of the tax system you flatten. I would flatten the disparities among types of income and types of spending, which would greatly simplify tax forms and calculations. Flattening the rate does next to nothing to simplify filing, since you still have to sort through the various types of income and types of spending (i.e., deductions, etc.).
Here is an open invite, I will drive you through the parts of North Philadelphia where Romney got zero votes. We will go block by block and door to door and see if we can find one person who did / wanted to vote for Romney. Will drive, pay for gas, and buy you a happy meal at McDonalds. Let me know what day works best for you. I am sure there are tons of Romney votes in those districts. It is "impossible" to believe that a place comprised of people Romney personally attacked on camera wouldn't come out and vote for him. I mean, I am sure Obama got at least 50% of former KKK members, no? Maybe a trip to Mississippi is in order to, Matlock.
8:22 pm on Sunday, January 13, 2013 "Taxes did not peak in 2007, what a joke. Learn something, we're all paying for it." They didn't? OMB must have their facts wrong then. How's this for a nice summary? 2007 all time high revenues. Source as noted OMB http://www.heritage.org/multimedia/infographic/2012/10/federal-spending-by-the-numbers-2012/the-federal-budget-1992-2012
If you are talking to me about volume of non-inflation adjusted dollars, that's not apples:apples. I'd just then point out that revenues were high in 2007 because GDP was high in 2007, but of course we know that economic scenario was built on a unsustainable house of cards and a housing bubble the crashed. And fueled by massive debt - both consumer and government - that haunts us to this day. And as for the other point, I'm not sure that you'd disagree that spending - based on every 4 year increments - has been flat to up. Probably increased every year.
And I want you to watch what your party does to Christie in 2016 - when they smear and destroy him so that some ideological pure unelectable clown can get trounced by Biden or Clinton. Maybe we can catch up then. And you know how you can tell Romney got trounced in an epic way? Because he didn't win a single state that Gindrich wouldn't have. He didn't win a single state YOU wouldn't have. I'm sorry you aren't doing well and struggling, and hope better times are ahead for you.
But I'm the moocher and you are the self-reliant capotalist. Suuuuuuuuuure.
Isn't the economy today fueled by massive debt - up $6B since BO was inaugurated & projected to grow to $25T next 10 years along with Fed Reserve money printing? The Federal Gov borrowed 293 billion in the first 3 mos of FY2013 budget. Ever look at the Federal Budget? 2004 spending - $2.29T 2008 spending - $2.98T 2012 spending - $3.6T Sustained spending in 2012 was 50% higher than 2004 levels and 20% higher than 2008 (not one time items like Stimulus). Flat? Now that's funny Source OMB Table 1.3
My focus is not to put people down (the Jesse Pinkman guy above being an exception). What I try to illustrate in all of my posts is a simple fact - things are they way they are because everyone, in some way, wanted them that way. So we have tax rates down almost every administration (sometimes by huge margins) with slight exceptions (Bush I, Clinton, now Obama). All the while, your costs were increasing as the Boomers aged and a large % of the population began to use gov't services. The cost of those services, by the way, were skyrocketing the whole time. So the answer was borrowing. My question is this - what other outcome was there? How were we not supposed to end up here with huge debt? And now, having bankrupted the country and consistently voted to expand the benefits they now enjoy, the older citizens of this nation are asking the younger ones to write of their expectations about social security and medicare. Despite that fact that we're paying payroll taxes too. And the future must be debt driven because no tax increase will pass the House. So, again, how is it supposed to be any other way than it is? This is what voters have voted for since 1980 at least.
Spending more than you earn isn't the cause of deficits? WOW! In 2022, the Fed budget projects spending at $6T which I guess to you will be flat from $3.8T today yet revenues will never be close. Right, it's a revenue problem JFK wanted lower taxes. Not higher spending. http://www.youtube.com/watch?v=aEdXrfIMdiU
republican=stupid
republican=stupid
"I want to pass on my accumulated wealth to my children, but it should be heavily taxed, not given a tax-free loophole." WHY? Why should the government have a right to take your stuff simply because you died? They can't confiscate your property while you are alive (without due process), why should that change just because you kicked the bucket? And you trust them to redistribute the wealth they confiscate in a fair way! Lots of luck with that, pal.
http://www.cnn.com/election/2012/results/race/president The education factor is basically even. Other then HS dropouts. 64% vote dem. As do the majority of poor. This exit poll after the 2010 HoR elections shows majority of educated (beyond HS) voting republican. Again, the HS dropouts vote dem, as do the poor. http://www.nytimes.com/interactive/2010/11/07/weekinreview/20101107-detailed-exitpolls.html It's ok. Go look at the piece of paper that tells you you're smart. You'll feel better. I'll just go count my money.
Only a person with no money would be stupid enough to write that.
Progressive tax regulations are nowhere near as key a component to a democracy as education is. If half this nation thinks being dependent on the government makes for a healthy, sustainable economy, we obviously have a serious education problem.