TaxLaw Changes Delay e-file for a Small Number of 2005 Forms (maybe yours)

[ChoralScholar]

Has anyone else seen this? I just got back from my tax preparer where my return was rejected because of my 8863 form for Education Credits. Apparently they aren't accepting E-file on a number of forms due to late tax law changes or some such, including 8863.

My three options:
1.)E-File without the Education Credit (significantly reducing my refund)
2.)File on paper
3.)Sit on it until Feb 1.

I chose #3. Here's what I found out about it, in case one of you has this same problem.


http://www.irs.gov/newsroom/article/0,,id=153344,00.html
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Washington — Following new tax law legislation enacted late in the year, the Internal Revenue Service announced today that e-file availability for a small number of 2005 tax forms will be delayed until later this month.

The late tax law changes mean that 13 forms will not be available for e-file until the end of January. None of the most commonly used forms are affected by the delay, and 114 other forms remain available for e-filing.

Based on last year’s January filings, a few hundred thousand taxpayers could be affected by the delay, with the largest group involving people filing Form 8863, “Education Credits.”

Affected taxpayers who e-file should wait until the end of January to submit their returns. They will be unable to file electronically these forms in the interim.

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What really irritates me is: When we're late with something, we get assessed penalties. When the IRS is late because they don't have their shit together in time, we're supposed to just say 'oh well - I guess I'll just do without this money that was mine to begin with."

[newscott]

1. Damn! Talk about filing early!

My wife has a small business and she usually puts off all of her paperwork for the year until about April 14.

[ChoralScholar]

2. kick for the late-night crowd

:kick: