If you've already filed your taxes, there's good chance you've gotten a letter saying "Due to a new tax law change, the IRS has delayed processing returns until February 14th”.
"You can't paper mail your return and expect it to be processed any sooner,” said Roanoke CPA Joe Schaben.
He’s been doing taxes locally for twenty one years and says not everyone is affected, but most people are.
If you get a deduction for higher education costs, benefit from the first time home buyer credit, itemize your deductions, along with a laundry list of other qualifications, you'll be put in the hold pile at the IRS.
If you do your taxes yourself but can't file for another two weeks, Schaben says this is a good opportunity to take them to a tax professional and have them look it over so you're getting the biggest refund possible. Or he says you should at least go back over your deductions yourself. Schaben says people commonly forget to claim charitably donations to places like at churches or the Goodwill.
"Double check all your figures before you send them in. It's easier to double check and correct and error now than it is to correct it later when the IRS comes asking questions,” said Schaben.
If you've already submitted your tax returns by paper or e-file, don't worry. The IRS will start processing those returns after February 14th. This delay does not affect the April 15th due date.
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