education credits

Education Credits Form 8863 Starting Feb. 14, 2013

The IRS announced that taxpayers will be able to start filing tax forms this week covering education credits.

Starting on Thursday, Feb. 14, the IRS plans to start processing Form 8863, Education Credits.

This step clears the way for almost all taxpayers to start filing their 2012 tax returns.

These education credits (and Sundays depreciation and Amortization) forms affected the largest groups of taxpayers who weren’t yet able to file following the Jan. 30 opening of the 2013 tax season.

The IRS will be able to accept the education credits forms following the completion of reprogramming and testing of its systems. Work continues on preparing IRS systems to accept the remaining tax forms affected by the American Taxpayer Relief Act (ATRA) enacted by Congress on Jan. 2.

The IRS also announced it will start accepting the remaining forms affected by the January legislation the first week of March. A specific date will be announced later. Most of those in this group file more complex tax returns and typically file closer to the deadline or obtain an extension. A full list of the forms that will be accepted the first week of March is available on IRS.gov.

This week’s opening covers taxpayers using:

Form 8863, Education Credits. Form 8863 is used to claim two higher education credits — the American Opportunity Tax Credit and the Lifetime Learning Credit.

For taxpayers using e-file, most software companies are now accepting tax returns with these forms and will submit them after the IRS begins accepting them later this week.