Ask TaxMama Issue 670 – Starting Late

Dear Family,

The official word is out. The IRS won’t be ready to accept electronically filed tax returns until January 30, 2013. Even then, a whole host of forms won’t be ready for prime time. (See the list in today’s IRS News.)

This is going to affect qualified Farmers and Fishermen. Normally, they can avoid estimated tax penalties by filing and paying their tax returns on March 1st of each. But they forms they need won’t be ready. The IRS hasn’t said anything about how they expect to address that issue.

Also in IRS News, you will find an overview of the National Taxpayer Advocate’s annual report to Congress. You’ll see that she is not happy with the status of several issues, like the handling of tax identity theft and more. (There’s a link to the full report, as well.)

In this week’s MarketWatch column, you’ll get tips about how to get ready for a small business audit – and the secret of how to get the IRS to waive penalties.

For more TaxMama® tips, keep an eye on this page and the whole Tax Site. It’s going to be awesome this year!

This week’s Equifax Blog explains about the last estimated tax payment for 2012, which is due on the 15th of January. Coming up fast. There are more interesting financial tips throughout this very interesting site.

We have a class at CPELink coming up next week. It’s the updated version of the “Top 10 Tax Changes for 2012 Filing” now that we have a new law. Join us

And have a great weekend!

As always, we love your feedback, opinions and ideas.

You are what makes all this fun – and interesting!

TaxNerd gear makes a bold statement year-round.

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama®

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