List of IRS Forms Causing Filing Delays

TaxThe IRS has released a list of forms currently being updated due to the recent tax law changes. If your return includes activity for these forms, they will not be available until late February or sometime into March. The majority of forms included are used to claim a credit. Also, included is Form 8582 Passive Activity Loss Limitations and Form 4562 Depreciation and Amoritization.

List of IRS forms that 1040 filers can begin filing in late February or into March 2013.

Problems with filing delays are already appearing for farmers. Qualified farmers (and fishermen) need to make estimated payments by January 15th or to file their 2012 returns with full payment by March 1 in order to avoid estimated tax penalties (see Publication 225, Farmer’s Tax Guide, section 16, for details). Clearly, if the Form 4562 is not available until after March 1st,
these taxpayers find themselves in a predicament. The National Association of Enrolled Agents have addressed this issue with the IRS. The IRS has acknowledged the issue and are working to resolve it as soon as possible. One would hope the IRS would waive penalties for farmers under these circumstances.

Another tidbit of information passed to Enrolled Agents is the IRS is expected to determine a single date on which all 30 of these forms may be filed, rather than allowing taxpayers and tax preparers to file the individual forms as each form is completed. Can we make tax season more stressful?

Working hard to keep you informed as information is available. Stay tuned for the latest and greatest as it hits!

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