The IRS announced in a recent bulletin that it has delayed the processing tax returns claiming education credits until the middle of February. This effects taxpayers who use Form 8863, Education Credits, to claim the American Opportunity Tax Credit and the Lifetime Learning Credit.
The IRS emphasized the delayed start will have no impact on taxpayers claiming other education-related tax benefits, such as:
- Tuition and fees deduction – using Form 8917
- Student loan interest deduction – Using Form 1040 series
People claiming these benefits are assured by the IRS they can start filing by January 30.
According to the IRS, the delay became necessary when they were testing and updating their system to avoid processing errors and refund delays for the upcoming tax season. During the testing, they discovered some modifications were needed for the program that processes returns using Form 8863.
The IRS remains on track to open the tax season on January 30th for most taxpayers. Additional information and forms can be found on the IRS website: irs.gov.
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