Gift From the IRS – Itemizers File on Valentine’s Day This Year

While this hopefully won’t be the most romantic gift you receive this year, the IRS has announced that if you itemize, Valentine’s Day is when you can file your 2010 taxes.

Rather than being able to file on January 1, this year the IRS asked certain taxpayers to wait until they updated government computers. They’ve now decided Feb. 14 is the day.

About 50 million taxpayers are affected: those itemizing deductions on Schedule A, those claiming the Educator Expense Deduction, and those claiming deductions for college students.

If you fall into one of those categories, you can finish your return, but the IRS has asked that you not send it in – either electronically or on paper – until Feb. 14. If you use a service that files electronically, most are ready to accept your return and will simply hold it until Valentine’s Day.

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