Posted by Stamper_WI on 1/1/11 4:45pm
Msg #366679
Tax filing delay for those that itemize
The IRS needs to adjust their systems because the tax cut bill was signed so late.
http://money.cnn.com/2010/12/31/pf/taxes/irs_filing_delay/index.htm?hpt=T2
| Reply by Linda_H/FL on 1/1/11 7:18pm
Msg #366688
I heard this on tv the other day and just read it on
the CNN website - in other words "Crap!! Now we're gonna have to give refunds and we don't have it - buy us time to find it!!"
I like to file early, too...<<mutter>>
| Reply by JulieD/KS on 1/1/11 11:05pm
Msg #366702
Re: I heard this on tv the other day and just read it on
It has nothing to do with them wanting to hold refunds. They have to redo their software for the tax laws that were extended. They were set to expire and software companies usually ship software in mid-December. So, the tax software I have will have to be updated and re-shipped. It's a pain in the butt for all of us. I imagine even the tax reference material I ordered had already been printed with information that now has to be changed.
According to NATP: "These items include returns involving— the state and local sales tax deduction, higher education tuition and fees deduction or educator expenses deduction as well as those taxpayers who itemize deductions on Form 1040 Schedule A."
| Reply by Linda_H/FL on 1/2/11 7:48am
Msg #366713
Julie..I'm sure you use a much more sophisticated program
than I do since you're a tax preparer, but don't you get auto updates? ...I use TurboTax...and every time I open the program it automatically checks for update and changes and downloads them (no shipping involved)...quick, easy and painless.
BTW, my comment about "where's the money" was a jab at our government - should probably have been in JP...but I'm not so sure I was far from the truth...certainly hope not..
| Reply by JulieD/KS on 1/2/11 10:36am
Msg #366719
Re: Julie..I'm sure you use a much more sophisticated program
My old software did auto-updates via the internet...and the initial download was also from the internet. I've upgraded to a more expensive software for the upcoming year (Drake) and they sent me a disk. They sent another disk for me to convert my TaxAct files to Drake. I would imagine they would have the ability to update via the internet, but I'm still learning how it works. It's such an extensive program, it makes my head swim. I almost wonder if I should've stuck with TaxAct. I've used it for years and know it inside out.
I was actually referring to the IRS' computer programs as needing to be updated...although I realize my post didn't convey that. In a way, it will be good for me that people have to wait. I often have people come in late January and if I inquire whether or not they have everything, they say 'oh yes, yes' only to have them call and tell me they received more stuff in the mail a couple weeks later. Then, their return has to be amended. So, now, I have a valid reason for asking them to hold their horses for a couple of weeks.
Happy tax season!
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