The IRS announced today it plans to open tax season for 2012 tax filing by processing individual income tax returns beginning January 30th, 2013. This allows the majority of tax filers to start filing their returns on January 30th. This assumes you have received your forms W-2 and 1099 necessary to file your return.
They estimate the remaining tax filers to begin filing in late February or early March due to the extensive form and processing system changes due to the new tax law. This group includes people claiming residential energy credits, depreciation of property or general business credits.
This opening date applies to both paper filed and e-filed tax returns.
Remember if you are due a refund, the fastest way to receive your refund is to e-file your return and choose direct deposit for the payment method.
The IRS will be providing more details soon on the forms affected by late legislation that will delay filing for some tax payers. Stay tuned for breaking news as it is made available.