IRS Update: They Will Begin Accepting Tax Returns with Education Credits and Depreciation

The IRS began accepting tax returns for a vast majority of taxpayers on January 30.  However, the IRS stated that they were not processing tax returns for a small number of taxpayers filing certain tax forms, including certain Education Credits and Depreciation and Amortization.  For taxpayers claiming those forms, there is some good news today!

The IRS announced today that on February 14, they will begin processing tax returns that contain form 8863 with Education Credits.  Form 8863 is used to claim two higher education credits — the American Opportunity Tax Credit and the Lifetime Learning Credit.

They also announced that on February 10, they will begin processing tax returns that contain Form 4562, Depreciation and Amortization.

The IRS will begin accepting all other tax forms that are not yet being accepted due to late tax law changes the first week in March.  We will update the blog with the exact date as soon as the IRS announces what date that will be. Not sure if your file one of these forms?  Here is the full list of the forms that will be accepted the first week of March.

TurboTax is up to date with all tax law changes, so you can file today and feel confident that your will get every deduction and credit you deserve.  And remember, if you have any questions, only TurboTax lets you talk to CPAs, enrolled agents and tax attorneys as often as you like while you prepare your return, free.

You can read the IRS full announcement here.