By Scott Hathaway
BYU students doing their taxes may need to postpone filing because of new legislation.
A recent adjustment to the alternative minimum tax by the U.S. House of Representatives has required the Internal Revenue Service to update several tax forms and their processing systems just as tax season gets underway.
These changes will require certain taxpayers to delay filing until Feb. 11.
“All tax payers are potentially subject to the minimum tax,” said Bill Brunson, spokesman for the IRS.
It is estimated that about 1 million people in Utah will be affected by the changes.
“The IRS will work to make this tax season as smooth as possible for taxpayers,” said Linda Stiff, acting IRS commissioner, in a news release.
Tax packets mailed to taxpayers this year do not include the forms affected by the alternative minimum tax changes.
These changes affect forms dealing with education credits, residential energy credits, child and dependent care expenses, mortgage interest credits and the District of Columbia first-time homebuyer credits.
Individuals or families submitting income tax returns involving these five specific tax forms will need to delay filing until the IRS has updated their systems.
Students and community members with an income less than $40,000 a year can contact BYU”s Volunteer Income Tax Assistance program to receive free help filing their tax return.
A business organization, which works in association with the United Way, sponsors VITA.
Josh Bushnell, president of BAP, said that VITA”s primary goal is to help the community with their taxes and help volunteers gain experience. All volunteers are expected to complete a certification exam to demonstrate their tax proficiency.
For people filing without assistance, Brunson recommends that all taxpayers visit www.irs.gov to determine whether they will be affected by the changes. Later this month, an electronic calculator will be available online as another way to determine whether taxpayers will be affected.
Tax forms that can not be submitted to the IRS until after Feb. 11
* Form 8863: Education Credits
* Form 5695: Residential Energy Credits
* Form 1040A”s Schedule 2: Child and Dependent Care Expenses for Form 1040A Filers
* Form 8396: Mortgage Interest Credit
* Form 8859: District of Columbia First-Time Homebuyer Credit
