IRS refunds delayed by late ‘fiscal cliff’ deal

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The Wall Street Journal reports that the Internal Revenue Service will “delay the start of its 2013 tax-filing season for most filers until January 30, about a week later than previously scheduled.”

This means several million taxpayers who would have filed sooner—many of them lower-income—will likely face at least a brief delay in their refunds. Lower-income households often depend on these refunds for basic living expenses… A delay in refunds also could be painful for some merchants in the slow post-holiday period.

The new law required the IRS to update some forms and make last-minute adjustments to its processing systems.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.