CPA Miami

Tax Accountant in Miami Sit On Completed Tax Returns

The Internal Revenue Service has reversed course on its prohibition against stockpiling tax returns before transmitting, and said Friday that because of the late tax law changes, the stockpiling rule does not apply as Tax Accountant in Miami just sit on completed tax returns waiting to file.

In an email to Tax Accountant in Miami professionals, the IRS noted that due to the recent tax law changes in the American Taxpayer Relief Act, Tax Accountant in Miami was delayed until January 30. In addition, a list of about 30 tax forms will not be accepted, either electronically or on paper, until even later in tax season, perhaps not until late February or March, including Form 5695 (Residential Energy Credits), Form 4562 (Depreciation and Amortization) and Form 3800 (General Business Credit.

As a result the IRS said that Tax Accountant in Miami and online providers are allowed to hold tax returns containing one or more of these forms until the IRS can accept them. Tax Accountant in Miami and online providers must advise taxpayers that the returns will not be e-filed until the IRS can accept the returns beginning January 30, the IRS emphasized. “Clearly explain to the taxpayer that this means the period for processing the return and/or checking the taxpayer’s refund status cannot begin before January 31, 2013.”

Therefore Tax Accountant in Miami e-file stockpiling rule does not apply in this situation.

Normally, a Tax Accountant in Miami must ensure that stockpiling of returns does not occur at its offices. Stockpiling is collecting returns from taxpayers or from another Authorized IRS e-file Provider prior to official acceptance in IRS e-file; or after official acceptance to participate in IRS e-file, stockpiling refers to waiting more than three calendar days to submit the return to the IRS once the Tax Accountant in Miami has all necessary information for origination.

The IRS said it does not consider returns held prior to the date that it accepts transmission of electronic returns to be stockpiled. This includes when the IRS is not able to accept specific returns, forms, or schedules until a date later than the start-up of IRS e-file due to constraints such as late legislation, programming issues, etc. Tax Accountant in Miami must advise taxpayers that it cannot transmit returns to the IRS until the date the IRS accepts transmission of electronic returns.

For more details on stockpiling, see Publication 1345, “Authorized IRS e-file Providers e-filing Individual Income Tax Returns.”


Gustavo A Viera is the managing partner of Gustavo A Viera, PA. His experience spans more than 25 years. He started his career in public accounting at PriceWaterHouseCoopers where reached the level senior audit manager. His Fortune 500 experience includes positions as CFO - Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at One Alhambra Plaza Floor PH Coral Gables FL 33134, and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 786-250-4450.