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When to Turn In Itemized Deductions

Valentine's, the Holiday of Love, Kisses . . . and Taxes

Not only do you have to spend the days up to the romance holiday planning and prepping for your date, but you might have taxes on your mind as well. This year, the IRS will be accepting all itemized deductions starting Valentine's Day, Feb. 14. Previously, the agency used to accept them in mid-January.

This delay is caused by changes made by Congress in the 2010 tax law that took longer than expected and were only completed in December. If you're among the small percentage of Americans who are early filers (last year only six percent of US taxpayers filed in January and February), you might have to deal with the stress of waiting to turn in your tax filings as well as figuring out your V-Day plans.

No worries though, you can still work on your taxes before the due date, so you'll be ready to send it in February. Tell me, are you an early filer or does this delay not bother you at all?

Source: Thinkstock
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