RICHMOND, Va. (WTVR) – January 30 marks the beginning of tax season, the day when most Americans can begin to submit their tax returns to the government.
The IRS originally planned to kick things off January 22, but the fiscal cliff debate forced the agency to push the official start date back eight days.
Despite the delay, not everyone should file their taxes yet.
Tax returns claiming the American Opportunity Tax Credit or the Lifetime Learning Credit, two popular education credits, won’t be processed until mid-February.
This means the roughly three million people who typically file returns claiming these credits before mid-February will likely have to wait longer for refunds this year.
Other filers with more complex returns, will need to wait until late February or March for their returns to be processed.