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Last Minute Tax Reform May Cause Delay In Federal Returns

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posted on Feb, 4 2011 @ 09:29 AM
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Don't know if this has been posted yet (no search results) .This may delay the processing of some peoples' tax returns. Returns can still be filed, but will not start being processed until February 14. As near as I can tell, the last-minute passing the the Tax Relief Act necessitated changes to the IRS software and tables.


While tax season is officially open, some people might have to wait until mid-February to file thanks to a last minute tax agreement in Congress. NY1's Tara Lynn Wagner filed the following "Money Matters" report.
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The delay effects taxpayers in three specific categories, all of them involving deductions: Schedule A itemized deductions, which include mortgage interest and medical expenses; higher education tuition and fees deductions; and the deduction for teacher expenses like classroom supplies purchased out of pocket.
Source

Related stories:
Tax Relief Act could delay some returns
IRS shortens delay on filing for some taxpayers
After Delay, IRS Will Begin Processing Returns on Feb. 14 That Claim Deductions Tax preparation - IRS announces delay in accepting many paper, electronic tax returns




posted on Feb, 4 2011 @ 04:11 PM
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Friend this has been going on globally for the last two years, ever since the begining of the GFC . Goverments have been stalling on refunds on a massive scale all around the world and always the same excuse of computer glitches and up grades .Strange coincidence that all goverments around the world experience this problem .A friend of mine's brother has been awaiting a large tax return for close to two years .He is not alone either .Many medium to large size'd bisuness's have not be paid yet also .Funny thing is they are very forceful to get their fruadulent money from you and will fine you when you are late , yet you have no equal recourse when they fall to give you what is your's after a hard years work !



posted on Feb, 4 2011 @ 10:13 PM
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reply to post by 13th Zodiac
 

It seems that originally this was to have been March.

I know that last year and the year before they were late with some refunds, but this appears to be due to changes to

I read somewhere that it had to do with the high levels of unemployment somehow. I need to look for that again.

Of course we're in trouble. There's hardly any tax base left. Ship jobs offshore, give the rich and corporations loopholes and offshore bank account benefits, give millions of jobs to illegal immigrants off the books, and who's left to pay taxes?



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