CHARLESTON, SC (WCSC) - Your tax refund might come a little later this year – thanks to the fiscal cliff
Congress kept America from falling over the cliff thanks to a last-minute compromise, but the move might delay tax filings.
"It puts us in this position to have to wait while the legislators are deciding what to do, how to solve the issues they've got to deal with," Jackson Hewitt Tax Service Area Manager Lynn Winstead says.
The IRS has yet to release tax forms, based on revised laws.
"The IRS is currently reviewing the details of this week's tax legislation and assessing what impact it will have on this year's filing season," IRS Spokesman Mark Hanson says in an e-mail message. "The IRS will soon make available additional information on when taxpayers can start filing 2012 tax returns."
Until the forms are released, taxpayers are unable to submit their returns. That will likely delay when refunds are issued.
"It literally wasn't until a couple days ago that anyone could tell you what the tax tables were going to be, so that's going to delay the IRS, that's going to delay all of the free tax prep providers," Trident United Way Vice President of Communications and Marketing Barry Waldman says.
Trident United Way offers free tax preparation to lowcountry families earning less than $57,000. Waldman says the program has helped thousands of local taxpayers access more than $10 million in refunds over the past seven years. For more information on the free tax preparation, visit www.tuv.org.