Tax Refunds Could Be Delayed in 2013

by Nate Wooley | January 7, 2013 10:43 am

uncle sam Tax Refunds Could Be Delayed in 2013[1]The IRS is warning that tax returns might be slower in 2013 than in previous years.

The blame is laid at the foot of the recent fiscal cliff deal, CNN is reporting[2]. The uncertainty about the fiscal cliff caused a delay in the printing of the 2012 federal tax forms; the IRS couldn’t move forward until the agency knew what the tax rates would be coming out of the negotiations between Congress and the administration.

“The IRS is currently reviewing the details of this week’s tax legislation and assessing what impact it will have on this year’s filing season,” the agency said in a release.

With the deal completed, the IRS is now reprogramming its systems with the new information. As soon as that’s completed, the agency will begin accepting submitted tax forms. After that, taxpayers can expect to receive their refund 30 to 60 days later.

More stories about the fiscal cliff:

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/uncle-sam.jpg
  2. CNN is reporting: http://money.cnn.com/2013/01/02/news/economy/tax-refunds/index.html
  3. The Debt Ceiling Debate: Worst-case Scenario: http://investorplace.com/investorpolitics/the-debt-ceiling-debate-worst-case-scenario/
  4. Gold Tumbles on Talk of End to Fed Stimulus: http://investorplace.com/2013/01/gold-tumbles-on-talk-of-end-to-fed-stimulus/
  5. The Fiscal Cliff Deal: A Day Late But Not a Dollar Short: http://investorplace.com/2013/01/the-fiscal-cliff-deal-a-day-late-but-not-a-dollar-short-aap/

Source URL: http://investorplace.com/2013/01/tax-refunds-could-be-delayed-in-2013/
Short URL: http://invstplc.com/1frVEJw