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Tax Fix Will Delay Millions of Refunds

IRS can't start processing AMT forms until February

By Nick McMaster,  Newser Staff

Posted Dec 27, 2007 4:53 PM CST
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(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.

The IRS building on Constitution Avenue in Washington, D.C.
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.
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.
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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Delayed tax season carries a cost
Evening Sun

Tax tips for the coming season
ABC News

Federal tax relief may mean delayed returns
WSBT

House votes for a one-year stay of the alternative minimum tax
Associated Press

US • Money

 
IRS • Alternative Minimum Tax

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