With all of the changes to the tax code that were signed earlier this year the IRS is scrambling to catch up. If you are a taxpayer that claims one of the education tax credits- the American Opportunities Credit and the Lifetime Learning Credit- using Form 8863 you will need to wait until mid February to file your return. This is because the IRS needs time to test their systems and ensure proper computations. Read more about it here.
Taxpayers Claiming Education Credits Wait Until February To File
By Bette Hochberger, CPA, CGMA
About the Author: Bette Hochberger, CPA, CGMA
Bette is the founder of the firm that bears her name. After launching her career in private accounting with technology startups and nonprofits in Boston and Miami, she transitioned to Public Accounting at large regional firms. She founded her firm so she could focus on the needs of small business owners instead of chasing billable hours with large corporations.