Valentine's Day marks start of tax season for many

WASHINGTON (AP) -- Valentine's Day will mark the start of tax season for millions of Americans this year.

The Internal Revenue Service had to delay processing returns from some taxpayers because of late changes in the 2010 tax law passed by Congress in December. The agency says it will start processing returns on Feb. 14 from people who itemize their deductions, those who claim a deduction for college tuition and fees, and teachers who claim a deduction for out-of-pocket classroom expenses.

Forms received from those taxpayers before Feb. 14 won't be processed until that date because the IRS needs more time to reprogram its processing systems to take into account the new laws, the agency said.

Other taxpayers can file their returns as soon as they receive all their tax documents from employers, banks and other financial institutions.

The IRS encourages taxpayers to file electronically, in part because they can get refunds faster.

Published: Thu, Jan 27, 2011