Do you itemize your deductions? Do you take the Tuition and Fees Deduction? If you take those are several other deductions and credits you will not be able to file your tax return until mid to late February.
Why? Because Congress waited until the last minute to decide what to do with the Bush Tax Cuts, and the IRS computers have to be reprogrammed. As this IRS press release states, if you’re one of those impacted–and one-third of all taxpayers will be–you will need to wait to file your return.
Tags: 2010TaxReturns