As Enrolled Agents, our team of Tax Professionals at Wamhoff receives the latest information and communication on tax laws and updates on filing information. We recently received correspondence from the National Association of Enrolled Agents with a list of forms that taxpayers will not be able to file on January 30th when the filing season opens. If you have any questions, please call our office at 636-573-1212 to speak with a Tax Professional.
Below is the original correspondence for your convenience:
Dear NAEA Members,
IRS recently released a list of 30 forms that individual income tax filers will not be able to file when the filing season commences on Wednesday, January 30th.
In addition to the three forms listed in yesterday’s release (and in our all-member message), the Service has added a variety of forms, nearly all of which are used to claim a credit. The following forms (the hyperlinks are to the 2011 forms as the 2012 forms are not yet available) are probably of most interest to EAs:
- Form 5884 (Work Opportunity Credit)
- Form 8839 (Qualified Adoption Expenses)
- Form 8909 (Energy Efficient Appliance Credit)
- Form 8582 (Passive Activity Loss Limitations)
We have heard from a number of enrolled agents that the delay for filing Form 4562 (Depreciation and Amortization (Including Information on Listed Property)) appears to be problematic for farmers. Qualified farmers (and fishermen) need to make estimated payments by January 15th or to file their 2012 returns with full payment by March 1 in order to avoid estimated tax penalties (see Publication 225, Farmer’s Tax Guide, section 16, for details).
Clearly, if the Form 4562 is not available until after March 1st, these taxpayers find themselves in a predicament. Based on conversations we’ve had with IRS, senior executives are aware of this issue and are working to resolve it posthaste. Our best guess (but we stress this is only a guess!) is that IRS will find a way to hold harmless farmers who would otherwise face estimated tax penalties.
Finally, we expect IRS to determine a single date on which all 30 of these forms may be filed, rather than allowing taxpayers and tax preparers to file the individual forms as programming for that form is completed.
National Association of Enrolled Agents — Powering America’s Tax Experts
1120 Connecticut Avenue, NW Ste 460
Washington, DC 20036-3953
202.822.6232 phone| 202.822.6270 fax
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