The IRS announced on Friday, February 8, that it will begin accepting tax returns with Form 4562 (Depreciation) as part of the tax return on Monday, February 11, 2013.
The IRS had notified tax preparers on January 30 that tax returns containing Form 4562 would not be able to be filed, either electronically or in paper form, before March 1, and possibly not until March 15.
This change will benefit many small businesses who file as S-Corporations and Partnerships, and those individuals who file Schedule C business returns or who may have Schedule E rental property. Until this point, preparers could enter information but were unable to do anything else because some of the forms contained in the tax returns had not been approved by the IRS.
Currently, we are not aware of any plan to extend the filing deadline of March 15 for corporation returns, or the partnership or personal return filing deadline of April 15. As always, the option of filing an extension (Form 7005 for corporate, or 4868 for personal returns) is an option.
If you have questions concerning the filing of your tax returns, please consult a tax professional.