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IRS to be Slow this Year

Posted: Wednesday, January 26th, 2011 at 6:28 am
Author: KNIA/KRLS News-Samantha Smith

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Those who itemize their tax deductions will have to wait for the Internal Revenue Service to catch up before filing their taxes this year. Don Croghan, Certified Public Accountant in Knoxville says because congress waited until late in the year to extend the Bush Tax Cuts the IRS assumed it would not be extended when setting up their computer systems for the 2010 tax year. The most used form that has been delayed is the Schedule A itemized deduction form though there are other less frequently used forms that will be affected as well. Croghan says the IRS reports they should have their computers all ready by mid February.