Delay of 2012 tax returns - implications for FAFSA

CTScoutmom
Wed, 09 Jan 2013 14:09:18 +0000

The IRS has announced that is delaying the start of the tax filing season yet again. They had planned to start accepting an processing returns on January 21, but have now delayed it until January 30th. That means that anyone hoping to file and then pull the information into their FAFSA in time to file FAFSA for Febrary 15th won’t be able to do so. They are estimating refunds will be available 21 days after you file, so the first refunds are also not expected to hit bank accounts until late February.

Some will still not be able to file as of January 30. The IRS has provided a list of forms that will not be ready on their website:

[List of IRS forms that 1040 filers can begin filing in late February or into March 2013](http://www.irs.gov/uac/Newsroom/List-of-IRS-forms-that-1040-filers-can-begin-filing-in-late-February-or-into-March-2013)

probably the most likely to be a problem for many here will be
•Form 4562 Depreciation and Amortization (Including Information on Listed Property) and
•Form 5695 Residential Energy Credits

I know some here will also be impacted by
•Form 8582 Passive Activity Loss Limitations