Happy New Year! On New Year’s Day the American Taxpayer Relief Act of 2012 was voted into law. As we waited for the ball to drop in New York, Congress was urgently trying to avoid the “fiscal cliff.” Here is a summary of the result:
When Will Tax Filing Season Start
The IRS will begin to update forms, instructions, and systems in order to adopt the extender provisions. Some state tax agencies will also have to adapt accordingly. Because the bill includes the extenders, we anticipate filing delays similar to those of the 2011 filing season (2010 tax year). Many taxpayers will not be able to file until mid-February, but we will keep you informed as the IRS provides more information.
Key 2012 Provisions in the American Taxpayer Relief Act of 2012:
Thank you for your patience as we continue to prepare for the 2013 filing season. We look forward to serving you this year.
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