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December 2, 2008 12:21:07 PM CST

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Tax Fix Will Delay Millions of Refunds

Posted Dec 27, 07 4:53 PM CST in Business,  US 

(Newser) – The 11th-hour freeze in the alternative minimum tax by Congress last week will delay refund checks for millions of taxpayers this year, the AP reports. Congress shielded middle-class taxpayers from a higher tax bill with its move, but the late date means the IRS won't be able to start processing AMT forms until February.

"We regret the inconvenience the delay will mean for millions of early tax filers, especially those expecting a refund," said the acting IRS chief. If last year is a guide, between 3 and 4 million people will apply for a refund with the affected forms in January. They'll just have to wait a little longer for their money.

Source Associated Press

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The IRS building on Constitution Avenue in Washington, D.C.   (Public Domain)
Congress has announced that more than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax.   (Shutterstock.com)
The I.R.S. has announced that more than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax.   (Shutterstock.com)
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