Scam.... Cant file taxes....

[ChIoVnIdCa]

So I guess I need to wait until mid feb to file my taxes since the system is not ready to take certain deductions.

[DJ metadelic]

whaaaaa

who are you filing with?

[Gemini]

Dont know what kinda deductions you are doing but the irs started accepting most efile returns on the 14th.

[ChIoVnIdCa]

Dont know what kinda deductions you are doing but the irs started accepting most efile returns on the 14th.

I itemize tax deductions for business expenses..

. Tax Filing Delay

Three groups of tax filers will need to hold off until a TBD date in mid to late February. This is because the Obama tax cut deal (aka the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act Of 2010) was enacted Dec. 17 and extended a few tax deductions from 2009 through 2010 and 2011.

* Taxpayers who itemize tax deductions. This is because schedule A needs to be re-worked.
* Those claiming the Higher Education Tuition and Fees Deduction – which is claimed on IRS form 8917.
* Those claiming the Educator Expense Deduction, which is given to K-12 teachers who use money out of pocket to pay for educational materials.

[Leung]

I normally just fill out a 1040ez, do I need to do anything special this year since I'm in school? I haven't started repaying my student loans or anything. Just curious.

[HondaB18]

I normally just fill out a 1040ez, do I need to do anything special this year since I'm in school? I haven't started repaying my student loans or anything. Just curious.

Not unless you itemize your deductions. For most people the EZ gets the most and is easiest. Less chance of audit too.

[phatdoughnut]

Not unless you itemize your deductions. For most people the EZ gets the most and is easiest. Less chance of audit too.

He might have to wait until mid feb if he is claiming the higher education credit.

[Leung]

He might have to wait until mid feb if he is claiming the higher education credit.

Oh do tell me more about this.

[phatdoughnut]

Basically a like ChIoVnIdCa said in his post. I cant remember how much it is, I think its somewhere around 2k tax credit if you are part to full time. Can't remember exactly.

edit,

There is three different credits you can take, hope credit 1,800(two years), American opportunity credit 2,500(4yrs, 2 if you use the hope credit twice), and the higher education credit 2,000(unlimited amount of years)

http://www.irs.gov/publications/p970/ch03.html