IRS Tax Return Status: Filing 2012 Taxes May be Delayed by Fiscal Cliff Bill

IRS Tax Return Status: Filing 2012 Taxes May be Delayed by Fiscal Cliff BillWith 2012 now behind us, one of the first thing many Americans are gearing up for is how and when to file their 2012 IRS tax returns in anticipation of a tax refund from the Internal Revenue Service. While many online and off-line tax filing services are already offering free tax filing services for 2012 returns, the recent passage of a bill by congress related to the Fiscal Cliff has made the acceptance date of tax returns by the IRS unclear.

On Thursday, the IRS indicated that the impact of the recent legislation is still not clear, but the agency expects to have some guidance for filing tax returns soon. Changes to filing for 2012 tax refunds are currently marked on IRS 1040 forms with some areas marked “reserved” in anticipation of the recently passed Fiscal Cliff legislation.

While some have begun to suspect that the changes could result in delays in receiving tax refunds from the IRS, there has been no confirmation of that so far. Turbo-tax, offering free online tax return filing, has indicated that they are ready to allow users to file their 2012 tax returns. Once the IRS makes its appropriate changes to the tax code, the tax returns will be submitted to the IRS, and those expecting a tax refund are expected receive one in a timely manner.

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