The IRS announced this week that it will begin accepting electronically-filed returns for most taxpayers on January 30. The open date is about a week later than expected, and the delay is attributed to the late nature of the passage of the American Tax Relief Act. Paper returns are affected by the delay as well. The IRS has delayed processing of paper returns until January 30 as well.
Though the open date is later than normal, it’s still earlier than most brokerage firms will be delivering 1099s, so a large chunk of taxpayers will be waiting anyways.
Not everyone will be free to file on January 30. If your return includes Form 4562 (depreciation), Form 3800 (general business credit), or any number of credit forms that were affected by the American Tax Relief Act, you’ll have to wait as late as possibly March in order to file your return.