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IRS officially starts tax season

Thursday, January 31, 2013 - 2:00am

Whether you have solid savings or not, tax time can be stressful, and today's the official kick-off of tax season.

The IRS had originally planned to kick things off on January 22, but the fiscal cliff debate forced the agency to push the official start date back until now.

Tax experts say it's important to make sure your taxes are right, especially this year, because you could qualify for help with mandatory health insurance that'll be required by law come October 2013.

"People need to make sure their 2012 return is filed accurately, especially for people with low and middle incomes, “ stated H&R Block tax advisor TJ Sont. “They might be eligible for subsidy help from the government for health insurance; that will be based on their tax return from 2012."

You can now file electronically, but there are certain delays you should watch out for including education credit, depreciation, retirement and any capital gains.

   

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