Could Fiscal Cliff Legislation Delay Tax Returns?
By: WROC-TV
Updated: January 3, 2013
There is no word yet if your tax refunds will be delayed this year because of the last-minute deal on the fiscal cliff.
The IRS put out a statement saying, "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." It also said it will issue additional guidance soon. If you look at 10-40 form for 2012, several lines are listed as reserved. An IRS spokesman says those are placeholders for several fiscal cliff provisions it was waiting on, like the alternative minimum tax.
The IRS put out a statement saying, "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." It also said it will issue additional guidance soon. If you look at 10-40 form for 2012, several lines are listed as reserved. An IRS spokesman says those are placeholders for several fiscal cliff provisions it was waiting on, like the alternative minimum tax.
