Although these five forms require significant additional reprogramming due to the AMT patch, the IRS has been able to reprogram its systems to begin processing seven other AMT-related forms, including Form 6251, Alternative Minimum Tax - Individuals. Taxpayers filing these seven forms should not experience delays in filing, and the IRS expects to begin processing those returns starting on time.
Electronic returns involving those five forms will not be accepted until systems are updated in February. Similarly, paper filers should wait to file as well. All other e-file and paper returns will be accepted starting in January. Especially for taxpayers affected by the AMT changes, e-file with direct deposit is the fastest way to get a refund.
Taxpayers also should be aware of important tax credits such as the Earned Income Tax Credit (EITC), the Saver’s Credit and the Child Tax Credit. Taxpayers must meet certain income limits for all three but tax credits such as these can significantly lower tax bills or increase refunds.
“Fire up your computer, and go to 1040 central at IRS.gov,” Sanford added. “From e-filing and tracking your refund to figuring out your withholding, it’s one of the best places to go for help and tax information.”
1040 central also has all the latest tax news, publications and updates about tax law changes.
The IRS also has issued an increasing number of warnings over the last few years about e-mail scams targeting individuals, businesses, exempt organizations and other taxpayers.
“Just beware of those cyberspace crooks who may be taking advantage of tax season to try to dupe people out of their personal information,” Sanford said.
The scams, popularly known as “phishing” scams, use phony e-mails that falsely claim to come from the IRS. As a rule, the IRS does not send unsolicited e-mails to taxpayers. Taxpayers who receive an unsolicited e-mail communication claiming to be from the IRS can forward the message to firstname.lastname@example.org using instructions posted on IRS.gov.