Tax Code Change will Delay Filing for Many

Tax Filing Delays

If you itemize deductions for your tax returns, as millions of Americans do, you will have to wait until some time in late February to file this year. Through no fault of its own the IRS reported that it will need extra time to reprogram its systems for the recent changes to the tax code.
The recent bill, which was signed into law on December 17th , was designed to ensure that federal tax rates would remain unchanged including the full deductions for taxpayers in the higher income brackets. Also in the law is help in terms of deduction for teachers and college expenses. Teachers will now be able to write off up to $250 for out-of-pocket expenses.
Because the bill was signed so late in the year, the IRS had already set up its system based on the anticipation of many of the tax breaks expiring at the end of 2010. According to IRS Commissioner Doug Shulman, “The IRS will work through the holidays and into the New Year to get our systems reprogrammed and ensure taxpayers have a smooth tax season.”