January 23, 2013

Delaying the inevitable.

According to the IRS, more than 80% of taxpayers filed electronically last year, around 96 million people.

The telltale signs of tax season began here weeks ago.  It is hard to ignore the Hispanic gentleman dressed like the Statue of Liberty, dancing on a street corner directing people to a tax filing business.

Ya'll know that they aren't processing returns until January 30th, right?  The much delayed fiscal cliff deal included provisions that affected the 2012 tax year, so the IRS is busy playing catch-up with forms and processing programs.

If you file any of these forms, you will be waiting even longer to file, best guess is late February or early March:.  And don't forget that there have been new restrictions placed on refund anticipation loans - they aren't as easy or fast as they used to be.  Sadly, there is a segment of our citizenry that lets the government use their money all year, and they count on their tax refund (and probably have it spent already).

I don't know about you, but I am not in any rush to submit my tax return on the 30th, along with millions of other people - not enough faith in the electronic processing capabilities of the IRS.   


CenTexTim said...

We manage our money so that we end up owing more taxes, instead of getting a refund. Consequently I wait until April 15 to file. No point giving the govt MY money any sooner than necessary.

Harper said...

I aim for breakeven, but err on the side of owing a little. I have no desire to give the government a loan each year.

InsomniacSeeker said...

I usually break even. Whatever I get from the feds goes to pay the state. Never have received a refund from the state. I also wait until April 15.