Chris Malone

Quite possibly the best voice you will hear all day, that’s because when you hear Chris Malone weekdays from 3pm to 7pm, your workday should be about done.  Chris keeps your favorite music going strong as you head down the home stretch.  Keep 98.5 KTK with you in the car, as hitting the rush hour adds stress; Chris keeps you cool with an hour of commercial-free music starting just before 5pm!

Most Likely Your Tax Return Will Be Delayed

While Congress and the President publicly battled over the fiscal cliff, their delay in finding a compromise means your tax return (and potential refund) most likely will be delayed too.  The result of the tax law changes for 2012 from the American Taxpayer Relief Act of 2012, passed by Congress at the beginning of January 2013..  Now the IRS is scrambling to modify deductions, exemptions and formulas on its forms.  Considering the tax code has significantly more pages than the Bible, its going to take some time and that pushes everything else behind.

So will your tax return be delayed?  The IRS will not be able to start processing returns that include depreciation deductions, passive activity losses, residential energy credits and general business credits until late February or early March because of the need for more extensive form and processing systems changes. This includes taxpayers whose Form 1040 includes a Schedule C for self-employment income and Schedule E for rental income and income from “pass-through” business entities.

Click here for the compete list of IRS forms that will be delayed until late February or early March.

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01/25/2013 7:42AM
Most Likely Your Tax Return Will Be Delayed
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