IRS Starts Processing Remaining Delayed Business Returns
UPDATE: March 4, 2013
The IRS announced that they have started processing all business tax returns previously affected by certain delayed tax forms.
If your business return was delayed, you will be able to file starting Monday, March 4, 2013.
- On February 14, we opened e-filing for business returns containing Form 4562: Depreciation and Amortization.
- On February 6, we opened e-filing for Corporate (Form 1120), S Corporation (Form 1120S), and Partnership (Form 1065) returns in TurboTax Business.
- On January 28, the IRS began processing Form 1041 (Estates and Trusts) tax returns.
Why the delays?
Congress was late in passing tax laws this year. The new tax laws, called the American Tax Relief Act of 2012, were signed into law on January 2, 2013 by President Barack Obama. The American Tax Relief Act requires that the IRS update its forms and instructions, as well as make critical processing system adjustments before it could process returns, hence this year's delay.