Saturday, January 01, 2011

Itemize? Expect a Refund? Get in Line.

Thanks to Harry Reid and QueenNancy...

...The IRS said that it needs until mid- to late-February to reprogram its processing systems because Congress acted so late this year cleaning up the tax code. The bill, which includes deductions for state and local sales taxes, college tuition and teacher expenses, wasn't signed into law until Dec. 17.

...The delay affects both paper and electronic filers who itemize deductions on Form 1040 Schedule A. That includes those claiming the new Educator Expense Deduction, which credits grade school teachers for out-of-pocket expenses of up to $250.

It also includes those claiming deductions for college students, covering up to $4,000 of tuition, which is claimed on Form 8917, though the IRS said there will be no delays for those that claim other education tax credits.

Though itemizers can work on their tax returns before the IRS is ready to accept them, the government said people should not send them in before it is ready to process the returns.

They'll tell you when you may file.

One last F*&^You from the (D) Congress.

7 comments:

Jim said...

The Repubs are AT LEAST as responsible for any delay as the Democratic leadership, if not more.

"The majority of taxpayers will be able to fill out their tax returns and file them as they normally do," said IRS Commissioner Doug Shulman in a statement.

This is a lame one, Dad.

steveegg said...

Blame the IRS for this delay (yes, the same IRS that waited 2 years to come up with the form your credit card issuer has to fill out to track everybody you hand your credit card to on a monthly basis). TurboTax was able to update its systems in time to allow those e-filing through them to do so as of January 6.

Oh, and Jim - which party had 60 seats in the Senate, and thus the ability to move whatever it wanted with absolutely, postively no consultation with the minority between the middle of 2009 and the beginning of 2010, and was never more than two short of that the remainder of the session?

Dad29 said...

Sorry, Jim, but you're flat wrong.

As Steve points out, the (D) Party held absolute power in both the Senate and the House all of last year.

Reid/Peloisi knew, however, that if they increased taxes BEFORE the election that there would be repercussions. So they put it off until November--by which time they also knew that they were as popular as maggots for breakfast.

IRS is a contributor, sure; but you expect that from Gummint.

J. Strupp said...

Who cares. The delay is going to be a couple of weeks tops. Most people dont get around to filing until February anyway.

Jim said...

"As Steve points out, the (D) Party held absolute power in both the Senate and the House all of last year."

Not so. Thanks to Norm Coleman, Al Franken was not sworn in until July 7, 2009. Congress was not in session in August and Kennedy died in the meantime. His successor was not sworn in until September 24th 2009. Scott Brown was sworn in February 4th 2010.

So in effect, the Democrats had "total control" (assuming the entire party voted as a block, which they didn't) only for parts of 5 months. They still managed to pass the Stimulus, PPACA, Financial Reform and DADT repeal without it.

Dad29 said...

Hmmmmm.

Passed the single most unpopular legislation since the Civil War--ObozoCare--and couldn't move a simple tax item.

OK, Jim.

Jim said...

"couldn't move a simple tax item"

A simple tax item?

What in the heck is "ObozoCare"?