IRS New Filing Date: Valentine's Day
The Internal Revenue Service plans a Feb. 14 start date for processing tax returns delayed by last month's tax law changes.
![IRS Valentine's Day](http://i.bnet.com/blogs/irs-v-day.jpg)
This is some sort of cruel joke, but the IRS has announced a special Valentine's Day gift to nearly 50 million tax filers: a delayed start to tax season. Because of the tax cut deal signed late in December, the IRS needs a little extra time to get ready. (It is with some irony that I note that the IRS is totally fine providing extensions for themselves, but a little less generous with taxpayers!)
Here's who has to hold-off on filing:
- Taxpayers who itemize deductions on Schedule A. Congress extended the right to deduct state sales taxes in lieu of the state income tax.
- Filers who claim the Higher Education Tuition and Fees Deduction which allows an annual write-off of up to $4,000.
- Those who take the Educator Expenses Deduction which allows K-12 teachers to subtract up to $250 a year in out-of-pocket classroom expenses from their incomes on forms 1040 and 1040A.
Image by Flickr User Janet 59, CC 2.0