2012 tax refunds delayed due to fiscal debate

2012 tax refunds delayed due to fiscal debate

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by Joe Smith, KGW Business Reporter

kgw.com

Posted on January 9, 2013 at 6:41 PM

Updated Thursday, Jan 10 at 6:10 PM

PORTLAND - More fallout from the "Fiscal Cliff" debate is affecting the Internal Revenue Service, which means a delay for when you can file your return for 2012.

The filing season has been delayed until January 30, whether you file electronically or by mail.

If you're one of the many early filers hoping to get your refund sooner rather than later, you'll have no choice this year. Since Congress went down to the wire over tax issues at the end of 2012, it left the IRS in a bind. They didn't know what the new tax codes would be.

"They configured their computers based on what they thought, what they expected the government to do. They gambled correctly on most of it," said April Gutierrez with Pacific Northwest Tax Service.

However, that delay from Congress still created a trickle-down effect for all filers.

"That's going to be a big headache for filers - particularly filers who are counting on their refunds to pay bills that they might have, especially left over from Christmas," Gutierrez said.

And for anyone hoping to get one of those rapid refunds, forget it. After 20 years, Refund Anticipation Loans are over.

"The IRS has said, essentially, Refund Anticipation Loans are an incentive for fraud and they take advantage of the poor," Gutierrez said.

While the filing season is delayed a couple of weeks, the deadline to have your taxes filed has not. It's still Monday, April 15.

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