Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Happy Valentine's Day: Itemizers can finally file taxes

By Blake Ellis, staff reporter

NEW YORK (CNNMoney) -- On Monday, the Internal Revenue Service will begin accepting itemized tax returns, after having pushed back the process due to Congress' delay finalizing the tax code this year.

That delay -- during which the IRS reprogrammed its processing systems -- meant that if you itemize deductions on Form 1040 Schedule A, you weren't able to file your taxes earlier than Feb. 14.

Itemized deductions include mortgage interest, charitable donations, medical expenses, along with state and local taxes.

Taxpayers were also forced to hold off if they were claiming deductions for college tuition as well as out-of-pocket expenses for teachers.

But you had the green light to file any time if you were claiming other education credits, the child tax credit, the Earned Income Tax Credit or the rest of the tax breaks available this year.

While about 50 million taxpayers itemize their deductions or claim the deductions affected by the delay, the IRS said that only about 9 million of those taxpayers actually file early enough to be affected.

So happy Valentine's Day to all you itemizers: Your tax season has officially begun. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.83%3.81%
15 yr fixed2.88%2.89%
5/1 ARM3.09%2.99%
30 yr refi3.92%3.91%
15 yr refi2.97%2.99%
Rate data provided
by Bankrate.com
View rates in your area
Find personalized rates:
Index Last Change % Change
Dow 17,061.25 10.50 0.06%
Nasdaq 4,823.99 13.20 0.27%
S&P 500 2,014.59 1.16 0.06%
Treasuries 2.10 -0.01 -0.43%
Data as of 10:20am ET
Company Price Change % Change
Alcoa Inc 10.48 -0.53 -4.77%
Freeport-McMoRan Inc... 13.66 0.19 1.45%
Bank of America Corp... 15.76 0.01 0.06%
Apple Inc 110.37 0.87 0.79%
General Electric Co 27.97 -0.06 -0.21%
Data as of 10:05am ET


Fan files federal lawsuit seeking class action status, charging that typical fantasy sports fans hurt by DraftKings and FanDuel employees playing with insider information. More

The U.S. is running low on truckers and trucking advocates argue that the shortage could damage the U.S. economy. More

The National Domestic Workers Alliance introduced a new initiative, Good Work Code, to set standards and protections for on-demand workers. More

Karim Abouelnaga turned down a job on Wall Street to address a problem that set him back as a low-income student: the summer slide. More

Danny Miller is a self-taught investor from Mobile, Alabama. He's better at figuring out stock prices and company earnings than most Walll Street pros. More