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List of 31 Tax Forms in Delayed Release

Closeup of clockMany of you are asking which specific income tax forms are affected by delays in availability caused by the late passage of the American Taxpayer Relief Act. 

The IRS shows there are 31 forms that were not yet available for processing at the official opening of the 2012 tax preparation tax season.  Many of the forms have to do with tax credits that can decrease the amount of tax owed.

As we have reported, some of the forms were only made available in the second week of March. Typically, such forms are ready weeks in advance of the launch of a tax season, not weeks after a tax season has begun.  This year, these forms needed to be updated and processed by the IRS following changes made in the ATRA which was passed in mid-January.  Tax preparers filed complaints with the IRS concerned that the delayed forms could affect the ability of many taxpayers to determine their tax obligation and make payments by the April 15th deadline.

Late last week, the IRS announced it will now allow a waiver of late-payment penalties if that taxpayer can show that their payment(s) delay is directly linked to the tax forms delay.

Taxpayers are reminded that because the late-payment alert system is automated, affected taxpayers who can not make their payment(s) by the April 15th deadline will be receiving a notice of a penalty by mail from the IRS.  The taxpayer will be responsible for detailing how the late payment was connected to a specific delayed form or forms in order to qualify for a penalty waiver.  All taxpayers must still file their tax returns by the April 15th deadline. (See more information on this in blogs filed last week.)

Here is the list of forms: 

  1. Form 3800, General Business Credit
  2. Form 4136, Credit for Federal Tax Paid on Fuels
  3. Form 4562, Depreciation and Amortization (Including Information on Listed Property)
  4. Form 5074, Allocation of Individual Income Tax to Guam or the Commonwealth of the Northern Mariana Islands
  5. Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations
  6. Form 5695, Residential Energy Credits
  7. Form 5735, American Samoa Economic Development Credit
  8. Form 5884, Work Opportunity Credit
  9. Form 6478, Alcohol and Cellulosic Biofuels Credit
  10. Form 6765, Credit for Increasing Research Activities
  11. Form 8396, Mortgage Interest Credit
  12. Form 8582, Passive Activity Loss Limitations
  13. Form 8820, Orphan Drug Credit
  14. Form 8834, Qualified Plug-in Electric and Electric Vehicle Credit
  15. Form 8839, Qualified Adoption Expenses
  16. Form 8844, Empowerment Zone and Renewal Community Employment Credit
  17. Form 8845, Indian Employment Credit
  18. Form 8859, District of Columbia First-Time Homebuyer Credit
  19. Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits)
  20. Form 8864, Biodiesel and Renewable Diesel Fuels Credit
  21. Form 8874, New Markets Credits
  22. Form 8900, Qualified Railroad Track Maintenance Credit
  23. Form 8903, Domestic Production Activities Deduction
  24. Form 8908, Energy Efficient Home Credit
  25. Form 8909, Energy Efficient Appliance Credit
  26. Form 8910, Alternative Motor Vehicle Credit
  27. Form 8911, Alternative Fuel Vehicle Refueling Property Credit
  28. Form 8912, Credit to Holders of Tax Credit Bonds
  29. Form 8923, Mine Rescue Team Training Credit
  30. Form 8932, Credit for Employer Differential Wage Payments
  31. Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit

For more information you may wish to read the more detailed descriptions in the IRS news release.

If you have any questions about your specific tax return or this issue, please don't hesitate to contact us at McRuer CPAs.

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