Tax questions answered - MSNewsNow.com - Jackson, MS

Tax questions answered

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JACKSON, MS (Mississippi News Now) -

Tax season this year is proving to be slightly different than last because of the Fiscal Cliff. The difference is how long before you will receive your tax refund check.

The filing season was slated to start January 22nd, but was delayed because of the big tax package passed by Congress January 1st.

Certified Public Accountant Joey Hines said, "I think probably refunds are going to be a little later this year."

The Internal Revenue Service backs Jackson Certified Public Accountant Joey Hines' statement.

Late changes to federal tax laws means delays for many taxpayers who are filing their 2012 returns.

"The IRS is currently saying that they anticipate everyone getting a refund within 21 days. We'll see if that happens. In the past I know sometimes refunds if you e-file have come as quickly as 10 days to two weeks. We really suspect it's going to be longer this year,"said Hines.

While many tax laws are carrying over from previous years to this year, Hines said some laws did change.

"Well, essentially if you are up in the very high limits as in more than $250,000 and above, your rates are going to be going up," said Hines.

The IRS released information saying about 20 percent of tax filers will have to wait until late February or March to file because the agency needs time to update and test its systems.

That includes people claiming residential energy credits, depreciation of property or general business credits. Hines offers this tip to ensure you get your tax refund in a timely manner.

"If you are using a tax preparer try to go ahead and get it to them as early as possible," said Hines.

Hines also said there is a way you can track the progress of your tax refund check. Click here to go to that page.

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