IRS to start accepting tax forms with education credits, depreciation
SALT LAKE CITY — The Internal Revenue Service has good news for taxpayers who had been waiting to file returns because of delays in processing two major tax forms covering depreciation or education credits.
Beginning Sunday, the IRS will begin processing returns that include Form 4562 for depreciation and amortization and on Thursday, it will accept those returns that contain Form 8863 for education credits.
The acceptance of those two forms clears the way for nearly all taxpayers who want to start filing returns for 2012 but were not able to with the Jan. 30 opening of the tax season.
Work is continuing on the federal agency's systems to accept any of the remain tax forms that were affected by the American Taxpayer Relief Act that was enacted by Congress on Jan. 2.
Any of the remaining forms affected by the January legislation will be accepted during the first week of March.
IRS officials do advise that any taxpayer claiming education credits such as those given through the American Opportunity Tax Credit or Lifetime Learning Credit wait until Thursday to file.
For those taxpayers using e-file, most software companies are now accepting tax returns with those two forms and will submit them after the IRS begins accepting them next week.
More information is available on irs.gov