The last-minute fiscal cliff decision pushed back the filing period by about 15 days. Usually you can file those taxes on the 15th, and now you can’t file until the 30th.
Because that fiscal cliff decision was done so late, the IRS had to wait until the last minute to finalize its forms. The good thing is refunds aren’t delayed beyond that filing period.
Liberty Tax is busy preparing taxes despite the delay. It says the biggest change this year is that the IRS has tightened its earned income credit rules.
It seems some people were taking advantage of the system and now you must not only bring in your child’s social security card, but a document that proves they live in your home. That could be a doctor or school form.
“We do recommend that you have someone review it, and we do a free review with people and if you are unhappy with the numbers you are getting, we will do a quick review to see that you got all your tax credits,” said Tim Cookson, Liberty Tax Licensed Consultant.
Turbo Tax is also offering a new app for Android users that allows you to snap a picture of your W2 and it immediately scans all the information into the system. It’s called Snap Tax.
Those at Liberty Tax say they didn’t know much about it but say they are a little worried about allowing all of your most personal information to be on your phone if it’s not secure.