December 19th, 2012
This just in…The IRS is officially accepting e files beginning on the very late date of January 22nd. This is about a working week later than last year. They are also advising that it will take 21 days to get refunds. Last year, the IRS refund cycle chart ran in about a 14 day window. With W2, investment, banking and mortgage statements arriving earlier and earlier, this is going against the trend trend of tax payers wanting to get their taxes preparered earlier and earlier. Tax Accountants beware. Warn your early filers to delay those kitchen remodel projects they want to start on when their refund is received. I susspect the IRS opening later due to last years big software bug that delayed initial refunds by up to 3 weeks. Additionally, I suspect they are doing this because they intend to pull aside for additional inspection a great percentage of returns this year than last.