(NEW YORK) — The IRS has delayed the start of this year’s tax filing season by eight days.
The window for accepting 2012 tax returns will now open on Wednesday, meaning many early filers will get their refunds late.
“Early filers are all about my refund, ‘I want my refund now,’ so that’s going to impact them negatively,” says Bob Meighan of Turbo Tax.
He says the IRS’ decision to delay the processing of all returns until Jan. 30 was the result of the late debate in Congress over the so-called “fiscal cliff.”
So how long will it take to process electronic returns?
“The IRS is now giving guidance that it’s going to be as long as 21 days, but that’s to set the expectation of 21 days. Normally, we find the processing is much quicker,” Meighan says.
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