News 10 sat down with Larrison’s Tax Service in Terre Haute Thursday to learn more about tax changes, ahead of the pushed back January 31 review date.
2014′s file by date is April 15.
“People pretty much got used to the government interference and slowing things up, I mean and there’s really nothing they can do about it,” said Mike Perkins, Owner Larrison’s Tax Service. Noting his business was beginning to pick up, Perkins also noted 2014′s official filing start date was pushed back by two weeks from 2013′s filing date.With the 2014 start date pushed back two weeks, government officials predict refunds will also be delayed. For many people, the news comes as bad because some filers rely on refunds for future investments.
“They may pay their house payments ahead of time, they may pay their house insurance and their car insurance, they make take part of that set back for a vacation, they actually use it in other ways,” added Perkins.
The delay on the federal level will also likely mean a delay on the state level. According to tax experts, professional tax agencies typically file federal along with state; State tax officials believe Indiana’s return will run behind as well.
“Indiana’s probably not going to process anything before the federal does,” said Perkins. Aside from the federal delay and State delay, The Affordable Care Act is also likely to play a role in the filing process.
“There are some things due to the affordable care act, there’s some additional taxes on investments, interest,” said Perkins.