Tax Planning Posted by: John Hyman Date: 30 Jan 2013 0 Comment
Because the late enactment of the American Taxpayer Relief Act, it took the IRS some time to update forms and computers to reflect changes for 2012 returns. As a result, today is the first day that the IRS will begin to process returns and start to issue refunds. Unfortunately, it may be longer (later February or even March) for taxpayers filing certain forms and schedules, including Form 4562 for depreciation and Form 3800 for the general business credit.
Our clients are using this time to get organized and to insure they have all of their supporting documentation. Many new clients have come aboard recently, after they met with us for a review of their tax strategy and in many situations discovered our methodology would save them money.
There is still plenty of time for us to perform a past return review and to get your 2012 return properly prepared and filed. Just give us a call to set up the initial appointment.