Let’s play a game of word association.  What comes to mind when you hear the word “depression?”  That’s right – Philadelphia Eagles fans – those that live in the unhappiest pro football city. (Link has since been removed from NYPost)

And what about Feb 14th?  Valentine’s Day, right?  Candy and flowers maybe?  How about income tax returns?

Beginning Feb 14th the IRS will begin accepting returns that itemize deductions.  Those who claim the standard deduction in lieu of itemizing, which makes up the majority of U.S. taxpayers, may file at any time.

Why the delay?  Following extension of the “Bush era tax cuts” on Dec 17th the IRS needed the extra time to update its systems to accommodate tax law changes without disrupting operations tied to the filing season.