Virginia Beach, Virginia (PRWEB) February 15, 2013
The IRS began processing tax returns yesterday with form 8863. This form is used to claim two higher education credits -- the American Opportunity Tax Credit and the Lifetime Learning Credit. If Liberty Tax Service clients filed their returns with a Form 8863 attached before January 27, the IRS is now processing those returns. Taxpayers do not need to take any additional action.
If an electronic tax return with a F8863 attached was filed on January 27 or later, Liberty clients do not need to take any additional action. Liberty Tax Service has sent those returns to the IRS.
If a paper tax return was submitted with a F8863 attached on January 27 or later, the IRS will now process those returns. Taxpayers do not need to take any additional action.
On February 10th, the IRS started processing tax returns that contained form 4562 for Depreciation and Amortization, another form that also delayed tax returns.
Liberty Tax Service has extended office hours to remain open longer to answer any questions and assist taxpayers with all of the current tax changes. Taxpayers can find a local Liberty Tax location by calling 866-871-1040. Liberty Tax does take appointments but they are not necessary.
About Liberty Tax Service
Founded in 1997 by CEO John T. Hewitt, Liberty Tax Service is the fastest-growing tax preparation franchise ever. Liberty Tax Service has prepared over 10 million individual income tax returns to date. Liberty Tax Service and its nationwide network of over 30,000 tax preparers are ready to offer their assistance at any time.
According to the International Franchise Association’s Franchise Business Economic Outlook, the number of franchise units in the United States declined from 2009 until 2012. Currently there are approximately 27,000 fewer total franchise establishments operating in the United States than there were in 2008. (774,016 in 2008 compared to 746,828 in 2012). In spite of this downward trend, Liberty Tax Service increased its number of locations from 2,695 in 2008 to 4,183 in 2012.
Liberty Tax Service stands behinds community enrichment efforts by sponsoring various non-profit organizations and urging their employees and franchisees to give back to their communities. To extend that community support, Liberty also offers an online tax service, eSmart Tax, which enables some to do their own taxes wherever there’s a computer. eSmart Tax is backed by the tax professionals at Liberty Tax Service and its nationwide network of over 30,000 tax preparers, ready to offer their assistance at any time.
For a more in-depth look at Liberty Tax Service, visit http://libertytax.com or the Give Me Liberty! Magazine. Follow Liberty Tax on Facebook at http://facebook.com/LibertyTax and on Twitter at http://twitter.com/libertytax or check the blog at http://libertytax.com/taxlounge or contact Liberty Tax directly at 1-877-at-Liberty.
Media: Martha O’Gorman
Liberty Tax Service
Chief Marketing Officer
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