IRS further delays acceptance of returns claiming Form 8863 education credits

BY SALLY P. SCHREIBER, J.D.

On Monday, two days before the delayed Jan. 30 start of the 2013 filing season, the IRS announced a further delay in processing returns that contain Form 8863, Education Credits, which must be filed by people claiming the American opportunity and the lifetime learning tax credits (IR-2013-10). During testing, the IRS discovered that programming modifications must be made before the form can be processed correctly so returns that include the form cannot be filed until mid-February.

The IRS emphasized that returns claiming other education-related items, such as the student loan interest deduction and the deduction for higher education tuition or fees, can be filed beginning Wednesday, Jan. 30.

The IRS also noted that its website contains a list of 30 other forms that cannot be filed yet because the forms must be updated and systems for processing them tested. A date will be announced when returns containing these forms will be accepted, but that date will probably be late February or sometime in March.

Sally P. Schreiber ( sschreiber@aicpa.org ) is a JofA senior editor.

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.