My sister told me she heard on several news channels that everyones incometax check will be late because something was messed up or not signed......Has anyone else heard this and if so can you please explain to me why.....We allways take our vacation when we get ours in Feb. so we dont know if we should go ahead and make plans or wait, Thanks and Happy New Year!
2007-12-30 05:28:54 · 6 answers · asked by ? 7 in Business & Finance ➔ Taxes ➔ United States
There is a delay that will be resolved.
If you do not use the following forms then you will not be affected.
Returns that include the following forms cannot be filed until Feb. 11, 2008:
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Form 8863, Education Credits
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Form 5695, Residential Energy Credits
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Schedule 2, Form 1040A, Child and Dependent Care Expenses for Form 1040A Filers
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Form 8396, Mortgage Interest Credit
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Form 8859, District of Columbia First-Time Homebuyer Credit
So happy vacations...
2007-12-31 05:55:14 · answer #1 · answered by Anaiyah M 4 · 1⤊ 0⤋
No, not true. Congress passed some late changes just a week or two ago, so some returns will be affected by that and can't be filed until February 11. If you are taking educational credits, then you'll be affected by the delay. Otherwise you probably won't be. There are some other forms besides educational credits that are also affected, but the ed credits is probably the main one that will hit very many people. If you claim child care expenses, you won't be able to file a 1040A until 2/11, but you can get around that by filing a 1040 instead. You also can't claim residential energy credits until 2/11.
2007-12-30 15:05:11 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
Go to IRS.gov and read the news release.
Tax returns that contain 5 forms (including the education credit and the 1040A child care tax credit form) will be delayed until February 11.
2007-12-30 13:42:08 · answer #3 · answered by Anonymous · 3⤊ 0⤋
Congress was late tending to the AMT patch-up. They did this on Dec 20th. If you have certain forms attached to your income tax such as 2441 Dependent Child Care Credit then yes refunds will be delayed. Or you can file your return, get what you can as far as a refund if you are entitled to one and amend your taxes later.
2007-12-30 16:18:59 · answer #4 · answered by Gary 5 · 1⤊ 0⤋
There will be delays for people subject to Alternative Minimum Tax. Just file your return normally and let it go through the system at its normal pace.
2007-12-30 14:50:00 · answer #5 · answered by Anonymous · 2⤊ 0⤋
YES MY FRIEND SAID SHE SEEN THE SAME THING. BUT I THINK WE WILL GET OUR INCOME TAX AROUND THE SAME TIME THIS YEAR, BECAUSE THEY HAVE TO BE FILLED OUT BY APRIL.
2007-12-30 13:36:53 · answer #6 · answered by Apryl S 1 · 1⤊ 1⤋