Tax forms from the federal government and many states may be delayed in the aftermath of the fiscal cliff legislation, one of the largest tax preparation chains warned.
Liberty Tax Service, a subsidiary of JTH Holding, Inc., warned of possible delays in the filing of tax returns due in part to the late congressional approval of the American Taxpayer Relief Act of 2012. Many of the changes to tax law affect the forms to be used for 2012 tax returns, and the IRS will need to work at an unprecedented pace in order to get the needed tax forms released to the various tax preparation firms and software companies, as well as to taxpayers.
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