Taxpayers that are affected by the recently enacted Alternative Minimum Tax (AMT) patch must wait until February 11 in order to file their tax returns. That is the date released by the IRS as a potential starting date for the five AMT-related returns that must be updated due to last minute legislation.
The IRS must reprogram their systems in order to account for changes mandated by new legislation. Due to the turnaround time, Congress must generally have all legislation signed into law prior to the Thanksgiving holiday in order to prevent delays.
Anyone using these five forms must wait until February to file:
- Form 8863, Education Credits.
- Form 5695, Residential Energy Credits.
- Form 1040A’s Schedule 2, Child and Dependent Care Expenses for Form 1040A Filers.
- Form 8396, Mortgage Interest Credit.
- Form 8859, District of Columbia First-Time Homebuyer Credit.
Other AMT-related forms have been properly reprogrammed. The IRS will be ready to begin accepting those returns on January 14.
