Because many breaks were retroactively extended back to Jan. 1, 2012, numerous IRS forms have to be updated accordingly. But the IRS couldn’t get started until after the changes were signed into law Jan. 2, 2013. And this means many taxpayers will have to wait to file their 2012 returns.
Both individual and business taxpayers are affected. Forms that need to be updated include those for:
Qualified adoption expenses
The general business credit
The Work Opportunity credit
The research credit
Empowerment Zone and Renewal Community credits
New Markets credits
Various energy-related tax breaks for individuals and businesses
Some of these forms might not be updated until March. For more information, contact our CPAs in Troy, Mich. or Houston, Texas.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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