• Home
  • About
  • Services
  • Tools
  • Links
  • Contact
Location
800 S. Gay Street, Suite 1919
Knoxville, TN 37929
Phone
(865) 523-8700
Socialize
  • ,

Van Elkins and Associates

Menu
  • Home
  • About
    • Our Team
  • Services
    • Tax Services
    • Payroll Services
    • Accounting Services
    • Businesses Consulting
    • Individual Financial Consulting
    • Expert Testimony and Litigation Support
    • Business Valuation & Appraisal
  • Tools
  • Links
  • Contact

Tax filing delayed for some

Monday, December 27th, 2010

The tax relief law enacted on December 17 extended current tax rates and other provisions for two years. It also retroactively extended several tax breaks that had expired at the end of 2009. As a result, the IRS must reprogram their processing systems before the agency can begin receiving tax returns that claim these breaks. The IRS will announce a specific date, which they expect to be in middle to late February. The delay affects both paper and electronic filing.

Taxpayers who fall into the following categories must wait to file:

  • Those who claim itemized deductions on Form 1040 Schedule A. The tax relief law extended the deduction for state and local sales tax, which many Tennesseeans claim.
  • Those who claim the Higher Education Tuition and Fees deduction, covering up to $4,000 of tuition and fees for post-secondary education. Taxpayers who claim other education credits, including the American Opportunity (modified Hope) credit and Lifetime Learning credit, are not affected by the delay.
  • Educators who claim the $250 Educator Expense deduction on Form 1040 or 1040A for out-of-pocket classroom expenses.

For most taxpayers, who are not in these categories, tax filing season will begin on time in mid-January.

For answers to your questions about the tax relief law or other changes, please contact us from here, email us, or give us a call at (865) 523-8700.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Tags: deduction, IRS, tax, tax credit, tax preparation, tax return

One thought on “Tax filing delayed for some”
  1. Pingback: Itemizers may file Feb. 14 | Van Elkins & Associates, CPAs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Van Elkins and Associates

800 S. Gay Street, Suite 1919 Knoxville, TN 37929

  • Home
  • About
  • Financial Services
  • Tools
  • Links
  • Contact
  • Privacy Policy

All content Copyright © 2021, Van Elkins and Associates. Knoxville web design and hosting by Slamdot.