Don’t be surprised if tax refund comes a little later

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(Bob Andres, bandres@ajc.com)

(Bob Andres, bandres@ajc.com)

You might have to wait a little longer for your tax refund this year to pay off those Christmas gifts.

Revisions to income tax forms needed to file your 2012 returns haven’t been made to reflect changes in the new fiscal cliff legislation that just passed Congress, according to the Internal Revenue Service.

That means new forms will go out later and the usual mid-January start for filing – and subsequent refunds – will be delayed, according to a CNN Money report on the IRS scramble:

While the IRS has published Form 1040 for 2012, several lines are listed as “reserved.” The designation is a “placeholder” for several fiscal cliff provisions, an agency spokesman said. The IRS has yet to publish an instruction booklet for filling out the tax forms, leaving tax preparers in a holding pattern.

Meanwhile, employers won’t have to wait to start withholding 6.2 percent of wages to satisfy a higher Social Security tax following the expiration of  a temporary 2-percentage-point payroll tax cut that was in effect for 2011 and 2012, according to a Wall Street Journal report. The IRS has issued new payroll tax withholding tables for employers that reflect changes in the fiscal cliff legislation. According to the IRS:

“Employers should start using the revised withholding tables and correct the amount of Social Security tax withheld as soon as possible in 2013, but not later than Feb. 15, 2013,” the IRS said.

What impact will the delay in tax refunds and the increase in payroll taxes have on your wallet?

60 comments Add your comment

Jst_Askn

January 3rd, 2013
1:06 pm

The end of the Social Security payroll tax ‘cut’ was already reflected in my first pay stub of 2013 (I don’t get paid until Jan. 4 but received the pay stub Jan. 2). :(

DJ Sniper

January 3rd, 2013
1:08 pm

Does this apply regardless of how you file? (Paper return vs. electronic return)

LAT

January 3rd, 2013
1:48 pm

When do the new tax rates go in to effect? Are they for the 2012 tax year or 2013 tax year?

LAT

January 3rd, 2013
1:49 pm

Are we using the new tax rates for 2012 income for the 2013 filing or for 2013 income filing in 2014?

SM

January 3rd, 2013
1:57 pm

I use Turbo Tax and it checks for updates every time you open it. I assume we won’t be able to file electronically until the new forms have been uploaded. That could take weeks.

Christopher Seward

January 3rd, 2013
2:05 pm

Revisions to tax filing forms would be the same whether paper or electronic

Christopher Seward

January 3rd, 2013
2:09 pm

New payroll tax withholding tables for employers are for 2013.

JimTom

January 3rd, 2013
3:31 pm

They said the same thing last year and all was well. Does the media bother to tell the truth anymore? At least do a better job at lying.

Thanks Obama Voters and GOP congressional sell-outs...

January 3rd, 2013
3:36 pm

In Obama’s world, everyone who has a job is defined as wealthy.

thanks for the higher taxes!

now I have less money to spend – so fewer profits for the stores. that leads to fewer hours worked for their employees, and less take-home pay for them, too.

the continued increased government spending that both parties want will lead to inflation – all so we can pay back China for bailing out our “too big to fail” bankers and mortgage lenders.

you tax-raising liberals and Republican sell-outs are going to learn that economics of higher taxes and goverment overspending will “trickle down” and hurt the middle class, too.

There are not enough “wealthy” taxpayers to pay for it all….

Roekest

January 3rd, 2013
3:42 pm

If we don’t start to consider a third-party candidate, then we’re all idiots. I learned my lesson this time; I hope you all do the same too

chc4

January 3rd, 2013
3:44 pm

Wow, the guy above me is 100% spot on. We are going down a very slippery, dark slope and there isn’t a single pol on either side willing to do anything about it. There is absolutely no doubt that we are heading for a fiscal disaster. Instead of pointing fingers at Bush/Obama or anyone else you’d think most people would want to solve it for future generations. Sadly not the case. All people care about is protecting their own entitlement and taking from others.

Hotinatlanta

January 3rd, 2013
3:47 pm

Why do the new tax rules pertain to our 2012 refunds? They are for 2013 and out. They shouldn’t affect our 2012 refunds. Let’s start cutting government spending by stopping the president and all government officials from flying all over the world at the drop of a hat. Every time he walks on to AF1 it costs us millions of dollars. Why did he have to go back to Hawaii to “finish” his vacation? He could have stayed somewhere local.

concerned

January 3rd, 2013
3:49 pm

Does this mean that April 15th is no longer the tax deadline?

ashleybrown

January 3rd, 2013
4:06 pm

I think we all need to increase our number of withholding deductions so we can get more money each payday and the govt won’t get the extra amount until 2014.

Steve

January 3rd, 2013
4:07 pm

The payroll tax increase of 2% is FICA – and it funds Social Security. You don’t get things for free, remember? Are taxes are the lowest they’ve been in 60 years yet we spend like fools on both sides of the aisle. Time to start cutting, and the military is the biggest chunk of the pie we can work with, as we can blow up the world 20 times over and we spend more on the military than our 10 largest allies combined.

joeybiten

January 3rd, 2013
4:32 pm

Why? 2012 returns are not impacted. And to those questioning “dear leader’s” travel back to the 57th state….he had to be in DC for his part in the fiscal cliff fiasco. He also hurried back out to his well earned 7 million $ vacation….he earned it, right. By the way, the bill was signed by his “auto pen”.
What a jerk!

snailboy

January 3rd, 2013
4:33 pm

we are in deep trouble in the USA!

BW

January 3rd, 2013
4:53 pm

All this crying about properly funding a popular entitlement is extremely revealing.

independenti

January 3rd, 2013
4:59 pm

I will add to previous comments – what does the cliff have to do with 2012 taxes? I don’t remember seing anything in the past few months that would have affected the 2012 forms or rules. So what was the IRS concerned with?

Tax Dude

January 3rd, 2013
5:09 pm

Changes to 2012 forms relate to AMT patch for 2012, as well as certain provisions that would apply to people who have flow-through business income and expenses on their individual tax returns.

NoDollarsForRichMen

January 3rd, 2013
5:25 pm

Tax refund? wow, who knew? I don’t pay taxes, nor file. Guess is sucks to be a taxpayer. Good luck with all that.

3d

January 3rd, 2013
5:48 pm

Glad I have off shore accounts

Joe Citizen

January 3rd, 2013
6:25 pm

Not surprised AT ALL that the new SS withholding tables were ready to go but the right forms for us to get our own money back will be late.

3rd Party or BUST !

January 3rd, 2013
6:25 pm

I want a 3rd Party that will support the following:

(1) Balanced Budget Amendment

(2) Term limitations for congress, senate & supreme court justices

Let everything else – especially divisive social issues such as abortion, gay marriage, gun rights, etc., be handled on the state & local level.

Obama Supporter

January 3rd, 2013
6:28 pm

Pay taxes?

I want my check !

I also want the free Obama phone I keep hearing about. Does it have free, unlimited minutes ?

Chris

January 3rd, 2013
6:34 pm

none of this ever hurts the rich .. I only make $15 an hour and that is not rich at all

Ga DAWG

January 3rd, 2013
6:38 pm

What does the IRS do if you tell them if you payment is going to be a little later. Your right the IRS charges interest along with a late charges. Does this mean if the money the gov. owes us we can charge a late fee with interest.

Shaniqua

January 3rd, 2013
7:25 pm

I never got my rent check from Obama! I want it now!

Kodibear

January 3rd, 2013
8:01 pm

I’m glad they voted to not raise taxes for income under $400,000. That will be a big help. The payroll tax was going up anyway so nothing to be done about that but we enjoyed the benefits for awhile. On a side note, I’m troubled that people don’t want Obama to have a vacation. Everybody deserves some time off.

Joey M

January 3rd, 2013
8:41 pm

I read some guy named “Steve” roast the military for taking too much money. What about entitlement programs? Let’s get rid of welfare, Obama-phones, food stamps, etc. Let’s get the people off the payroll of the taxpayers. If we do that, we will get rid of the deficit in under 10 years.

Shekema

January 3rd, 2013
10:06 pm

Anyone who thinks receiving a big income tax refund every year is being plain stupid, you’re just making interest free loans to the government. Adjust your tax withholding (Form W-4) so that you break even. Even if you owe a modest amount and pay with your return there’s no penalty.

haha

January 3rd, 2013
10:22 pm

you cry babies need to be quiet. take on the government tough guys. what r u scared of?

Accountant

January 3rd, 2013
11:54 pm

People from both sides of the political spectrum need to come to the scary realization that we could literally cut every dollar of ‘discretionary’ federal spending, meaning everything except SS/Medicare/Medicaid/Debt Service, and we’d STILL be running a deficit. The $16 trillion federal debt number that everyone quotes IS NOT REAL. SS/Medicare have unfunded liabilities (future promises w/ nothing set aside to pay them) of over $90 trillion. We are a bankrupt nation…and unless we do something about the two big entitlements, and soon, there’s not going to be anything we can do (raising taxes/cutting discretionary spending) to stop the bleeding. Too bad no one in power wants to tell the American people the truth…and it’s also too bad that most of America is satisfied to go through life blissfully ignorant of exactly how bad our situation is.

Rev Al

January 4th, 2013
1:12 am

They won’t stop spending until our dollar is dropped as the international standard. This will come after years of running the printing presses….then and only then will they have no choice. It’s going to get real ugly faster than anyone thought…..

Just so you know...

January 4th, 2013
1:19 am

President Obama was on vacation for 26 days during his first year in office (2009). Ronald Reagan spent 42 days on vacation during his first year in office (1981). President George H.W. Bush was on vacation less than his son, 40 days, in 1989, his first year in office. President Obama was on vacation less in his first year in office than the previous three Republican Presidents.

Dubya took more vacations than any president since Hoover. In eight years, he spent over a thousand days on vacation.

Obama? Not so much.

So friends, look in the mirror and ask yourselves why you didn’t criticize Bush for this, but you do criticize Obama.

Some of us already know the answer.

Bravedawg

January 4th, 2013
3:39 am

Yeah, Obama couldn’t be on vacation that often. He had too many TV appearances he had to make. Name one other president that has been on more TV shows (daytime, nighttime, whenever) than this clown? Dealing with the Benghazi fiasco and he’s on Letterman a day later?? How many times was he on The View during his four years?? He made his rounds through every latenight show. For someone not to be on vacation and couldn’t get anything constructive accomplished, he sure found enough time to put his face out there.

Planner

January 4th, 2013
5:44 am

It is depressing to read the multitude of moronic and uneducated comments. Don’t assume anything. Educate yourself before posting or at least pose a question. The 2% tax increase on payroll is in place to pay for YOUR social security. It’s not free. Most other American will not be effected by the tax increases. There were a few changes to the law that were retroactive for 2012 which is why the forms need to be updated. The 2% increase was expected by the IRS because the 2% break was only temporary.

kbwhatusay

January 4th, 2013
5:53 am

President was on the view as well he just wasn’t an interesting guest, and love the way you all have something to say about everything the president is trying to do but where were your voices when both Bush’s were in office doing what they do best nothing and look dumb when someone ask them a question. Let it be known the house is why nothing constructive can get done. I guess you are going to continue to whine like Mitt Romney, do you actually believe that people who voted for Obama would still be whining if he did not win? The answer is no, so go get a pacifier and deal with it.

Tyneisha (waitn 4 Obamacare)

January 4th, 2013
7:54 am

Hoping I get a refund this year cuz I got bills to pay! Baruck Obauma would never stear us wrong. So far I’m loving my free phone and I cant wait for my ObumaCARE!

JH

January 4th, 2013
8:01 am

Why do people call S S an entilement. We paid into this fund and expect to get our money back it is not an entitlement.

Senor Coughee

January 4th, 2013
8:10 am

What part of TEMPORARY in temporary 2% decrease is so hard to understand? That temporary 2% decrease came out of YOUR children and grandchildrens’ Social Security. Which probably won’t be there when they qualify.

Senor Coughee

January 4th, 2013
8:12 am

“Do you actually believe that people who voted for Obama would still be whining if he did not win?” Yes by filing lawsuit after lawsuit, protesting, and whining like little babies.

Gacowboy

January 4th, 2013
8:21 am

Politicians on both sides are crooks! For those of you wanting to cut the military, remember no one loves the soldier until the enemy is at the door! When you are about to get your a$$ in the sling you will be in the government handout line wondering why the soldiers didn’t stop them! The problem with our country is indeed entitlements. Our people have no pride! I want to say “I earned my own” not “I has to wait on gov check!” If we let dumba$$ people pay for their mistakes then they just might learn from them! By the way, one of the big differences in Bush and Obama vacations was the cost. A trip to his OWN ranch in Texas was definitely cheaper than Hawaii or Michele and her “entourage going overseas! If you want to be a leader then lead by example!!

MetroATL

January 4th, 2013
8:33 am

Another subtle reminder that our government is cooking the books. We need major tax reform NOW. Revised procedures for when and how we deliver our capital to them is not good enough, imo, and far from it. These people are rolling us with a free hand.

David

January 4th, 2013
9:30 am

It’s funny how people charge all those things on their credit cards and then have to wait to tax season to pay it off. So they are slaves to bills that don’t make no since

Sweetee

January 4th, 2013
9:31 am

Did JimTom say the same thing happen last year and ALL WAS WELL?? Really- heck naw, the same thing happened lasted year and taxes were delayed like crazy. Sites were made to compare peoples stories of when they filed, when the IRS said they to expected a refund, and when their lights and water were going to be turned off or put out. JIM TOM, were you in China last year? Cause American’s were hanging on by a string.

james

January 4th, 2013
9:35 am

Greece here the USA comes… probably by 2020
if nothing changes… The spending is out of control
so when nothing is left for the government to hand
out such as SS ,Medicad, Medicare don’t come crying
to people who have saved their $$ for help…..
Do you think people in the African, South and Central
Americas and other countries get as much help as the
good old USA government hands out– doubt that’s why
they come here cause we are so stupid to give out to
them although alot of these people have contributed
nothing to help…. same goes with the blacks, whites and
other who are USA born and too lazy to get some kind
of job cause they are out there….

Larry

January 4th, 2013
9:44 am

Bravedawg, you’re the type of person the person posting above you was referring to. When someone refuted the claim about the POTUS taking too much vacation, you started complaining about his appearances on television. It’s obvious you’ll never be satisfied as long as there’s a black man in office. I’ll bet you’re a closet “birther” too. But get used to it because a woman is next in line.

Mad

January 4th, 2013
9:49 am

Got my first paycheck of the year and the new tax ate $130 more out of my bi-weekly check. That’s a $3,400 increase for all you idiots who voted for the other idiot in the WH.

lynniegal

January 4th, 2013
10:08 am

Republicans wouldn’t go along with any stimulus to our economy. The payroll tax cut was considered temporary stimulus. Democrats should have fought harder for it, but it was Republicans who objected to the payroll tax cut. Republicans only support tax cuts for the very rich, not for everyone else. If it makes middle class life even a little bit easier, Republicans oppose it. That’s why nobody likes Republicans anymore–except the Kochs of the world (and those who are ignorant enough to be persuaded to support tax breaks for wealthy.)