Oh no, not another possible delay coming for the 2015 tax year. The IRS commissioner John Koskinen has warned congress that if they don’t make decisions on how to proceed with more than 50 expired tax provisions there could be a delay the soon to come tax season, as well delays in taxpayer refunds and it could also trigger some amendments as well.
Tax preparers will already be facing new challenges this year with the Affordable Care Act in the picture. A late start to the season will add yet another hurdle to the most stressful time of the year for this profession. Tax software will most definitely be affected by a delay, as the modifications to these policies cause software developers to update and change programs at the last moment to keep up with the tax law.
The IRS states that they have completed a lot of preparation for the upcoming tax season despite the uncertainty associated with the tax laws. The expired tax laws in question will affect a wide range of taxpayers and companies from corporation tax breaks to alternative energy and school teachers.
If congress has not make the final decisions before December arrives this will most definitely turn the stress way up for the entire tax community. We are hoping for everyone’s sake involved that congress comes through for the 2015 tax season to begin on time. We can promise our customers that we will work diligently to get your software to you as soon as it is humanly possible. We will also do our best to assist you with any challenge we can from helping you increase your database to information on the Affordable Care Act. UltimateTax is more than just a software provider, we are a tool for you to increase your success.