In several specific situations many taxpayers are anxious to file their annual tax returns. This is especially true if you are due to receive a large tax refund or need the filed tax return to support a legal proceeding (i.e. a divorce settlement, pending litigation, etc) or in conjunction with a mortgage loan application. 1099s and W-2 s are required to be provided to recipients by the end of January or early February. However, President Obama did not sign the tax law “extenders” until December 17th. As you may have already concluded, it is not possible to incorporate all of these changes in to the IRS system, tax software etc to meet the normal end of January submissions.
If your 2010 tax return includes any of the following, you should not file your return (either via e-file or paper) until late February:
1. State and local sales tax deduction, or
2. Higher education, tuition and fees deduction, or
 3. Educator (teacher) expense deduction, or
4. You itemize your deductions using Schedule A
Additional updates and information will be available from the IRS website at http://www.irs.gov You may also discuss these matters with your CPA, tax return preparer, or tax software vendor. Specific guidance from the IRS is contained below: