Tax refunds for early filers will be late this year - ABC 12 – WJRT – Flint, MI

Tax refunds for early filers will be late this year

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(01/18/13) - Your tax refunds may be a little late this year - especially for those who file early.

The IRS extended the date by two weeks when tax services can first file the return.

The IRS will start accepting tax returns Jan. 30, which is usually the time when early filers get their refund in the mail.

But not this year. After an 11th hour fiscal cliff deal, it's left the IRS playing catch up.

Scott Hammond is one of those early tax filers, but he didn't know his refund will be later than usual. "I have a vacation planned in late February, it's all paid for, this is just extra spending money for me and my daughter."

"Normally Jan. 15 is the first day you can file a tax return, but now they've extended to Jan. 30 before they will accept any tax return from any preparer in the United States," said Bill Tadrick, of Tadrick's Tax Service.

Tadrick said he can't remember when the IRS has ever extended the date to file. Many of his clients rely on early refunds to pay for holiday expenses. "Many rely on the refund for Christmas bills. Sometimes they over extend themselves during the holiday, so they use that refund to help make a mortgage payment or something."

While Hammond doesn't need his refund check now, he can understand the frustration. "For people who are struggling, it's going to be a tough task for people who are expecting that money quick. I've put myself in a good spot financially so I don't have to worry about it," he said.

Tadrick expects refunds to be at a minimum two to three weeks late. But what about those who file in the coming months?

"People that file later aren't going to have a problem unless they have specific forms in their tax return. The IRS has said energy credits, depreciation schedules, adoption credits, those will be delayed longer than normal because they don't have the forms prepared yet."

Tadrick adds, just because the IRS is late with refunds, don't wait to get your return in.

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