IRS Unveils 2014 Tax Season Start Date
For the second year in a row, bright-eyed and bushy-tailed taxpayers will have to wait to file their 2013 tax returns. Back in October the IRS taunted taxpayers with the mention of a delay in the upcoming tax season. True to their word, the IRS unveiled a January 31st start date and eager tax filers will have to wait an extra 10 days for the 2014 filing season to begin.
Tax Season Delay
A flustered IRS cited the 16 day Government shutdown as the source of their woes that furloughed 90% of their workforce. The shutdown left the IRS with a backlog of paperwork during a time when it performs most of its critical testing and programming on its complex tax-processing system. The IRS stated further time is needed to program and test IRS computer systems for smooth and efficient processing of a projected 150 million tax returns.
What to Expect
The IRS will begin accepting returns no earlier than January 31st while the statutory April 15 deadline remains unchanged. Additionally, the IRS reminded taxpayers that early acceptance of returns from makers of popular tax software or simply mailing a paper return early, won’t speed up the process during tax season. All taxpayers are on the same level playing field with the acceptance of all returns beginning January 31st.
Many early tax filers depending on refunds to pay bills are encouraged to e-file their tax returns using direct deposit to expedite their refunds. With 75 days in the upcoming tax season, taxpayers who need more time can file for a six-month extension using Form 4868.
While last year’s delay was the result of the fiscal cliff and this year because of the government shutdown, are there any predictions for next year? Why speculate when we can simply wait and see what next year’s folly of Congressional behavior brings.
The Watson CPA Group is a progressive tax consultation and preparation firm embracing internet technology to provide worldwide tax service from offices in Colorado Springs USA. A secure online Client Portal allows remote taxpayers to exchange financial information, tax documents and tax returns saving valuable time and resources.