IRS postpones start of 2014 filing season; Administration illuminates individual mandate policy

Briefly after continuing the process of operations post-government shut down, the IRS informed taxpayers that the initiation of the 2014 tax season will be postponed by one to two weeks. The delay will mainly impact taxpayers who want to file their 2013 returns early in the filing season. At the same time, The White House made it clear on social media that no consequence under the Affordable Care Act’s (ACA) individual permission would be imposed during the enrollment phase for attaining coverage through an ACA Marketplace.

Returns and refunds
The 16-day unpaid leave overlapped with the October 15 deadline for taxpayers on extension to file 2012 returns. The IRS accounted that during the shutdown it extended as many automated processes as possible, as well as accepting returns and processing payments. The Free File system was also open during the unemployment period. Still, refunds were not a question while the IRS was down. Refunds are currently being processed. If you have any questions or concerns about a refund or payment, please contact us at 763-480-0878.

Filing season
The IRS had projected opening the 2014 filing season on January 21. With a one – to two – week setback, the IRS would start accepting and processing 2013 individual tax returns no prior than January 28, 2014, and no later than February 4, 2014. The IRS stated it will make an ultimate determination on the start of the 2014 filing season in mid-December.
The IRS is obligated to program, test, and deploy more than 50 systems to handle processing of nearly 150 million tax returns.

As always, any taxes owed are still due by the date of April 15, 2014.