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Education Credits Mid Feb?
Not a question, just info. This just came across IRS newswire. I know people have been asking, and anxious to know:
Issue Number: IR-2013-10
Inside This Issue
IRS To Accept Returns Claiming Education Credits by Mid-February
WASHINGTON - As preparations continue for the Jan. 30 opening of the 2013 filing season for most taxpayers, the Internal Revenue Service announced today that processing of tax returns claiming education credits will begin by the middle of February.
Taxpayers using Form 8863, Education Credits, can begin filing their tax returns after the IRS updates its processing systems. Form 8863 is used to claim two higher education credits -- the American Opportunity Tax Credit and the Lifetime Learning Credit.
The IRS emphasized that the delayed start will have no impact on taxpayers claiming other education-related tax benefits, such as the tuition and fees deduction and the student loan interest deduction. People otherwise able to file and claiming these benefits can start filing Jan. 30.
As it does every year, the IRS reviews and tests its systems in advance of the opening of the tax season to protect taxpayers from processing errors and refund delays. The IRS discovered during testing that programming modifications are needed to accurately process Forms 8863. Filers who are otherwise able to file but use the Form 8863 will be able to file by mid-February. No action needs to be taken by the taxpayer or their tax professional. Typically through the mid-February period, about 3 million tax returns include Form 8863, less than a quarter of those filed during the year.
The IRS remains on track to open the tax season on Jan. 30 for most taxpayers. The Jan. 30 opening includes people claiming the student loan interest deduction on the Form 1040 series or the higher education tuition or fees on Form 8917, Tuition and Fees Deduction. Forms that will be able to be filed later are listed on IRS.gov.
Updated information will be posted on IRS.gov.
6 Answers
- ?Lv 45 years ago
IR-2013-10, Jan. 28, 2013 WASHINGTON — As preparations proceed for the Jan. 30 opening of the 2013 filing season for many taxpayers, the inner revenue provider announced today that processing of tax returns claiming education credits will by means of the center of February. Taxpayers making use of type 8863, education credit, can begin filing their tax returns after the IRS updates its processing systems. Kind 8863 is used to say two larger schooling credit -- the American possibility Tax credit score and the Lifetime finding out credit. The IRS discovered during checking out that programming modifications are wanted to properly system type 8863. Filers who are or else ready to file however use the shape 8863 shall be equipped to file by way of mid-February. Types with a view to be equipped to be filed later are listed on IRS.Gov. Up to date expertise will likely be posted on IRS.Gov. Comply with the IRS on New Media page last Reviewed or up to date: 30-Jan-2013 Hope that you just the above enclosed knowledge useful. 02/03/2013
- Anonymous8 years ago
Judy, I took down my education credit to file my return right away. I was told I could ammend. So when those education forms become available can I get that credit this year? I have been told I will have to mail stuff? Can I amend electronically or not?
- 8 years ago
This is not true. I claimed credit and have a dd of 2/7/13. So judy this information is not accurate.
Source(s): WMR. IRS represenative. - 8 years ago
What happens to people like me who were already accepted with form 8863? Will they reject me on the 30th?
