Good news, it is the 30th and we can now efile tax returns. Yay! Bad news, not all of the forms are approved by the IRS yet. This will not affect most taxpayers but it will affect some. Those that it will affect are taxpayers claiming the depreciation expense and some of the more obscure credits. The depreciation forms should be ready late February or early March according to the IRS website. Also, taxpayers claiming the education credits will need to wait until mid February to file. So what does this mean for you? Well, you can still get your taxes done and have them ready to finalize once the forms are approved.
Chris has been working in the industry for over a decade and has a passion for ensuring her clients have the best service in the area of taxation, accounting and bookkeeping.