User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


33° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Freezing rain switching to snow Sunday evening through Monday.

 

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Tax Return Delay

January 10, 2013, 9:50 PM by Angela Kennecke

Tax Return Delay
SIOUX FALLS, SD -

If you're hoping to get a quick tax refund this year, you're out of luck. The date to file your taxes has been pushed back by the IRS to the end of the month.

If you want to blame Congress for one more thing, you can blame it for the delay in getting your tax return this year. The IRS won't start rolling those checks out until the middle of February or later.

"We did a lot of work ahead of time; as much as we could. And then as soon as that bill was passed then we were able to dig into the meat of it and see how is this going to impact all the forms and all the processing we do," Shane Ferguson with the IRS said.

Many tax credits were extended, but they have to go back into the system

"There were certain things that we needed to know; one of course was the alternative minimum tax, whether that patch was going to be in place and they put that in place and we were ready for that. A couple more were the local and state sales tax deduction; the higher education tuition and fees deduction as well as the education expense deduction," Ferguson said.

While the majority of taxpayers should begin to be able to file their returns on January 30, there are a few who need specifics credits who will have to wait for a few weeks to a month to file this year. 

"Some forms are just not going to be available; our processing is not going to be updated. For example, the residential energy credit; some property depreciation, some general business credits, those forms are going to take us longer to get updated and the processing fix," Ferguson said.

And while 80 percent of taxpayers do file electronically, the IRS doesn't want you to go back to paper filing this year because of the delay.

"You may have some folks who say okay, my forms look like they're ready; I am going to file a paper return and get to the head of the line. We are not going to start processing anything until January 30th and electronic filing is still going to be the best way to go," Ferguson said.

But the IRS says it's working with tax software developers and tax preparers to make sure once filing season does start, it all goes smoothly. 

Last year, nine out of ten returns were directly deposited in taxpayer's checking accounts within 21 days of filing and the IRS expects that time frame to be the same this year.

Click here to read the IRS news release.

Previous Story

Next Story


Comments







Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

National Attention For Sioux Falls Bakery

12/15/2014 9:56 AM

A Sioux Falls bakery is getting more national recognition.  CH Patisserie has been named one of the top 75 bakeries in the nation by The Daily Me...

Full Story
Cliff Hangers Gallery Closes; Customers Want Items Back

12/15/2014 10:10 PM

For more than two decades, Cliff Hangers Gallery has been a fixture in Sioux Falls.  A couple of years ago, the business moved from Park Ridge Ga...

Full Story | Watch
What Will Cost More/Less In 2015

12/16/2014 1:36 PM

Industry experts say gasoline prices will continue to fall in 2015, but other prices are expected to rise.

Full Story
Denny Sanford To Donate $25 Million For Scholarship Program

12/16/2014 4:30 PM

Philanthropist T. Denny Sanford is donating $25 million to South Dakota for a scholarship program for the state's technical schools.&nbs...

Full Story
Denny Sanford's Multi-Million Solution To Worker Shortage

12/16/2014 10:04 PM

Sanford's money provides half of the funds for a $50 million scholarship program at the state's technical schools to train workers to fill job...

Full Story | Watch


Events