7:51 am January 27, 2011, by Henry Unger
If you itemize your federal tax deductions, there’s no point in filing until Feb. 14.
That’s because the Internal Revenue Service had to delay processing returns from some taxpayers because of late changes in the tax law passed by Congress in December, Associated Press reported.
The IRS says it will start processing returns on Valentine’s Day from people who itemize their deductions, those who claim a deduction for college tuition and teachers who claim a deduction for out-of-pocket classroom expenses, AP writes.
Forms received from those taxpayers before Feb. 14 won’t be processed until that date.
Other taxpayers’ returns will be processed when they’re filed.
- Henry Unger, The Biz Beat
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