Personal Finance: Ask the Experts: IRS: All taxpayers can now file their 2012 returns

Personal Finance: Ask the Experts

Get advice on money matters from The Bee's Claudia Buck and a panel of local experts

March 5, 2013

IRS: All taxpayers can now file their 2012 returns

Fire up your tax forms: Ending a nagging delay in the 2012 tax season, the Internal Revenue Service announced it has finished updating, installing and testing new forms, instructions and other changes to its massive tax-processing systems.

That means all individual and business taxpayers can now file their 2012 federal income tax returns, including those who had to wait to claim various business and personal tax credits or deductions, such as residential energy credits.

This year, the IRS could only accept 2012 tax returns in phases, starting in late January. The delay was primarily due to last-minute "fiscal cliff" tax laws enacted by Congress, which required the IRS to scramble in getting those changes incorporated into its computers.

With less than six weeks before this year's April 15 filing deadline, the IRS is reminding taxpayers that the best way to file an accurate return is to e-file, choose direct deposit if expecting a refund and use online tax-help resources.

Those who need more time to finish their tax returns can get an automatic, six-month tax-filing extension by going to the Free File link or filing IRS Form 4868.

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Claudia Buck is The Sacramento Bee's personal finance columnist. Read all her columns here. Contact her at cbuck@sacbee.com

Terri Carpenter

Terri Carpenter offers advice on job hunting, retraining and career counseling. Carpenter works at Sacramento Works Inc., the career and job training arm of the Sacramento Employment and Training Agency (SETA). With 15 years in the field, she has hands-on experience with everyone from first-time job seekers to career professionals seeking advice after a layoff or looking for a mid-career change. Ask her a question.

Carlena Tapella

Carlena Tapella is a partner in the law firm of Webb & Tapella Law Corp. in Sacramento. The firm specializes in estate planning and probate, such as estates, trusts, conservatorships and litigation. She is a past president of the Sacramento County Bar Association's Estate Planning & Probate Section. Ask her a question.

Kimberly Foss, certified financial planner, is the founder of Empyrion Wealth Management in Roseville. With nearly 30 years in the financial industry, her clients include women in transition, small business owners, retirees and "pre-retirees." Ask her a question.

Gregory Burke, a CPA and tax expert with John Waddell & Co. in Sacramento since 1984, worked as an IRS tax auditor for six years. He’s a past chairman of the California Society of CPAs. Ask him a question.

Daniel Tahara takes your questions about California taxes. Tahara, a spokesman for the state Franchise Tax Board, has 10 years of experience as a tax auditor. Ask him a question.