Delays expected in tax refunds this year

Delays expected in tax refunds this year

Posted:

By JOSH AULT
6 News Reporter

KNOXVILLE (WATE) - People who are trying to file their taxes early may be surprised to find out they can not do that just yet. Several things have caused the IRS to hold back on processing taxes.

Caryle Breeden, an enrolled agent with Breeden and Company in Knoxville, has been doing taxes for more than 30 years. She says the fiscal cliff dilemma was not the only reason for this year's filing delay.

"The delay came about before the fiscal cliff scenario," said Breeden. "The IRS commissioner had changed in December the cycle for refunds and has changed it now to where instead of people getting returns, I know some of my clients got refunds back quick as seven days, to now they are hoping to get returns back within 23 days."

Instead of allowing early taxes to be filed on January 22, the date has been pushed back to January 30 this year.

Breeden says this year the IRS is being much more careful with fraud prevention and identity theft, which could mean a bigger delay before you receive your tax refund.

And if you go ahead and file before January 30 anyway, you could end up causing more problems for yourself.

"Any filing that happens right now, for instance, or anyone who tries to electronically file, it's just going to be stockpiled," said Breeden.

This stockpile could cause an even bigger delay.

Breeden says if you file before deadline, there is a chance your tax filings could be rejected.

"We usually do our taxes early, but we are going to wait and see so we don't get caught up in the stockpile with them," said taxpayer Martin Stein.

"I imagine there's a lot of middle class people that don't have extra money who are going to be very aggravated," said taxpayer Gary Alpert.

Breeden says her best piece of advice is just to wait to file your taxes.

She also says some business owners, and those who own rental properties will have to wait even longer to file their taxes. Many new forms for this year are not ready yet.

Breeden says the IRS may extend this year's tax deadline of April 15 because of all the changes.

Powered by WorldNow

1306 N. Broadway NE Knoxville,
Tennessee 37917

Telephone: 865.637.NEWS(6397)
Fax: 865.525.4091
Email: newsroom@wate.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Knoxville, Inc. A Media General Company.