Clients have a lot of questions this year beyond just higher taxes. Preparers report they’ve already begun fielding inquiries about the later start to tax season and possible delays in refunds.
The IRS said earlier this year that it plans to open the 2013 tax filing season and begin processing individual income tax returns on January 30, more than a week after the initially planned start date, and that some returns cannot be processed until late February or March. Regarding refunds, the IRS has stipulated that although it did issue more than nine out of 10 refunds to taxpayers in less than 21 days last year and same results are expected in 2013, “It’s possible (a) tax return may require additional review and take longer.” New identity-theft counter-measures may also cause delays in refunds.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access