Valentine’s Day will be tax time for IRS

  • Friday, January 21, 2011 12:01am
  • Business

Valentine’s Day will mark the start of tax season for millions of Americans this year.

The Internal Revenue Service had to delay processing returns from some taxpayers because of late changes to the 2010 tax law passed by Congress in December.

The agency says it will start processing returns on Feb. 14 from people who itemize their deductions, those who claim a deduction for college tuition and fees, and school teachers who claim a deduction for out-of-pocket classroom expenses.

Other taxpayers can file their returns as soon as they receive all their tax documents from employers, banks and other financial institutions.

The IRS says it needs more time to re-program its processing systems to take into account the new laws.

Associated Press

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