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Federal tax refunds delayed

Some of the pain from avoiding the fiscal cliff may have been averted, but not when it comes to taxes.

Congress’ last minute changes to tax laws mean you’ll have to wait at least a week longer than usual (three weeks) to get a refund.

The IRS started processing returns eight days later than usual. The IRS is 26.6 billion dollars behind its normal pace of refunds.

The IRS had already issued all the forms for the 2012 tax year when Congress made final adjustments to tax laws on January 2nd.

The IRS, tax preparers and tax software companies had to make adjustments after the start of the new year.

Tax preparers tell NewsChannel 3 some taxpayers still are not able to file a return. For example, any entity with depreciation or individual with education credits needs to wait until the IRS finishes creating new forms.

And, if you think the federal government is going to cut you a break because of the delays, it’s not going to happen. Your income tax returns are still due on April 15th.

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