Delays in processing some 2010 tax returns

If you file a Schedule A (Itemized Deductions) with your tax return, you will have to wait a bit before filing for 2010 – that includes both electronic and paper filing.

Remember that Congress passed tax revisions late in 2010? Part of that bill included changes to the Schedule A and the IRS is still working to get their computer systems modified. The current target date is February 14, 2011. According to what I have read, if you file electronically, the return will be rejected until their systems are updated – paper filing means the return will probably go into a stack of papers to be processed later and that has ‘disaster’ written all over it…

Best advice I can give is to hold on and wait – you can go to www.irs.gov for further updates and I’ll post an update here as well.

If you have comments or questions, don’t hesitate to contact me.

Cheers!

Tom

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