The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>United States Taxes

Is this income tax delay definite? and when is the earliest i can file taxes?


i hear this big talki about the delay of income taxes, well, is it definite. some have already gotten christmas loans towards their taxes. most places let you use your last check stub, is this not avaliable this year as well? this is crap. please try to help me find answers because i need my money fast, quick and in a hurry!

As of yesterday, the word was January 14th was the soonest you could file.

I know most if not all tax information has to be mailed and postmarked by Jan 31st in the states. Hope this info helps you out a little.

i believe that the is going to be a short delay, last year you were able to fill with your last pay stub I'm not for sure about this year. the Christmas loan was available through H & R block, i agree this is crap. Good Luck

yes, they are running a little short over at the treasury. the war and banking bailouts take big bite and then there is ss and medicare they haven't been able to eliminate. they just have to wait for the chinese to buy some more funny money certificates and we will be rolling in dough. don't sweat it.

everything will be perfect as soon as the new president takes over. it is the best of all possible worlds.

Nobody will let you file with your last pay stub. That gravy train was derailed last year by massive losses by the banks that actually made the loans.

If your return is one that might have been subject to AMT treatment under the rules in place before Congress patched it last week the processing of your return will be delayed. If you have a simple return with modest income and are not taking any credits other than the Child Tax Credit or EIC then you should not see a delay.

You can file a paper return any time after Jan 1, 2008 once you have your W-2 in hand. You can generally e-file when the e-filing season opens up, probably around Jan 15th or so. The exact date has yet to be announced on their website. However if your return includes one of the forms significantly affected by the AMT patch you will not be able to e-file until sometime in February. The IRS has set a tentative date of Feb 15th for that but as in all things governmental that could change either way.

Here's a link to the IRS article about the AMT patch and the impact that it will have on SOME taxpayers' filing plans: http://www.irs.gov/newsroom/article/0,,i...

Yes it's definite, but only if you use certain forms. Otherwise you can file on the normal schedule of Jan 1 by mail, mid January by efile. The delay was caused by Congress not passing the laws that affect AMT until late December. The IRS has to reprogram their computers to deal with the new rules. They've completed some, but not all of it - so some forms still have to be reprogrammed.

The forms are:
鈥?Form 8863, Education Credits.
鈥?Form 5695, Residential Energy Credits.
鈥?Form 1040A's Schedule 2, Child and Dependent Care Expenses for Form 1040A Filers.
鈥?Form 8396, Mortgage Interest Credit and
鈥?Form 8859, District of Columbia First-Time Homebuyer Credit.

If you don't use any of those, you won't be affected by the delay.

Filing with your last paystub has nothing to do with the IRS, it's something sometimes offered by tax prep firms. You aren't actually filing until you get your W-2 - what they do is give you a high cost loan for the amount of your refund until you get your W-2, actually file, then they use your actual refund to pay off the loan. You'd have to check with your tax prep place and ask them if they are providing this type of loan this year - some might be, some are not.

Tags
  Austin   Atlanta   Other - Business & Finance   Other Taxes   United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes
Related information
  • Do I have to fill out a Schedule D form just for one $2. short-term capital gain?

    Of course you do! The IRS will only know about what you sold the stock for, not what you paid for it. If you bought a single share of Berkshire Hathaway for its current price of $141,100 and sold...

  • How do I get my annual W2 income statement electronically?

    You'll have to ask your employer how to do that. That is optional with the employer, there is no central repository for that information.

    ...
  • Why can't the U.S. pay in exact change like Europe? Ex. If you see a tag that says 2 Euro, that's what you pay

    Because there are no sales taxes in Europe. But don't think for a second that that's a good deal because it isn't. In Europe (and most of the rest of the world) the government coll...

  • Filing your federal tax return without a W2 form.?

    No wait. Your employer has until Jan. 31, to have it in the mail. If you don't receive your W2 by Feb 15, 08 Contact your employer if your employer will not provide the W2 then contact IRS a...

  • Who do incomtax with just a last check paystub?

    Whoever prepares your income tax return will have to have all documentation on your income. Just the last pay stub is not enough to determine your total earnings, tax deductions, etc.

    ...
  • My ytd IS 13,826 i'm claiming 2 DEPENDENTS ONE 2 ANOTHER 3 HOW MUCH WILL MY TAX REFUND FILE HEAD OF HOUSEHOLD

    Like everyone said $4,716 is the EIC you will be receiving plus whatever you paid into the federal withholding. HOWEVER you probably don't need the HoH status. Your tax liability will be ...

  • How to claim loss on my tranditional ira account ?

    Gains and losses within an IRA have no tax consequences and aren't reported. When you withdraw money, the amount withdrawn is taxed as ordinary income to you.

    ...
  • Do you think a man is head of the household in 2007? On income tax?

    Head of Household status isn't gender based, it's defined in law. If you are unmarried or considered unmarried for tax purposes AND maintain a home for your minor dependent child or ...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster