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.


68° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

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







 
Find Local Businesses on KELO Pages!

View business

You may also like

Three Sushi Restaurants Close After Owners Dispute

10/22/2014 10:05 PM

Your options for sushi in Sioux Falls have just been cut by three. The restaurants mysteriously shut down this week, leaving customers and employees a...

Full Story | Watch
Valentino's Restaurant For Sale

10/20/2014 12:18 PM

Prime real estate on 41st Street in Sioux Falls is for sale. Valentino's Restaurant at 41st Street and Western Avenue has been listed for $1.35 mi...

Full Story
Long John Silver's Closes, Building For Sale

10/20/2014 12:31 PM

A longtime fast food option in Sioux Falls, the Long John Silver's restaurant is closing after more than 30 years in business. 

Full Story
Three Sushi Restaurants Suddenly Close In Sioux Falls

10/22/2014 4:45 PM

Three sushi restaurants have all closed for business in Sioux Falls.

Full Story
Pierre Woman Wins On In-Flight Game Show

10/17/2014 12:10 PM

A South Dakotan is a winner on the Allegiant Airlines' first in-flight game show called "The Game Plane."  The reality show is film...

Full Story


Events