Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Early Tax Returns in Jeopardy

Congressional stalling on Alternative Minimum Tax patch may force IRS delay

By Jim O'Neill, Newser User

Posted Dec 2, 2007 2:55 PM CST

(Newser) – If you're planning to file for an early tax refund this year, don't count on it. Congress has dragged its feet in creating a patch for the Alternative Minimum Tax that could make the IRS postpone filing season several weeks, the AP reports. A limit... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Associated Press (Source Grid »)
Wall Street Journal (Source Grid »)

What is the Alternative Minimum Tax?
Townhall.com

Start planning now
Nevada Appeal (Carson City)

Congress • IRS • income tax • Alternative Minimum Tax

More Newser Stories

How Many Millionaires Paid No Income Tax in '09? 1,470

Average income fell 6.1%, new data shows

(NEWSER) - Some harsh figures are tucked into newly released income tax data from 2009: As the economy shed jobs, so too did the country shed taxpayers. Two million fewer individuals and couples filed with the IRS, while some 1,470 people earning $1 million or more didn’t pay a dime, the Huffington Post reports. Meanwhile, the average income dropped 6.1% between 2008 and 2009, to $54,283, IRS data shows. “What you're seeing is the devastation of the massive loss of jobs and the effects of the real recession on real Americans,” says a law professor. More»

Another Temporary Budget Strains Federal Agencies

SEC can't hire; foreign aid money blocked; no end in sight

(NEWSER) - Because Democrats and Republicans are at loggerheads on spending, Congress had to approve yet another stopgap budget measure yesterday to keep the government running through March. While federal agencies avoided a shutdown, they've got to keep operating at last year's spending levels, a development that amounts to a budget cut given rising costs, notes the New York Times . The effects are wide-ranging: The SEC isn’t hiring; hundreds of millions in foreign aid dollars are stifled; IRS systems can’t be upgraded, etc. More»

What If I Don't Feel Like Filing?

Christopher Beam explores the potential evader's options

(NEWSER) - With millions of Americans enduring long lines at the post office today to file their tax returns, Christopher Beam of Slate can’t help wonder: What would happen if you simply didn’t file? The answer is probably not much—7 million Americans declined to file last year, and only 158,000 of them were investigated—although certain factors increase your chances of being an IRS target. More»

Incomes Under $400K May Dodge Brunt of Tax Hike

AMT still higher

(NEWSER) - If your income is in the $200,000-400,000 range, and you’ve been fretting over Barack Obama’s proposed tax hikes, relax; odds are decent you won’t wind up paying more. Obama’s plan does indeed jack up the rates on those tax brackets, but for many those increases won’t take their federal taxes above the Alternative Minimum Tax level they’ve been paying for years, the New York Times reports. More»

Cheney Makes Way More Than His Boss

VP's family rakes in $3M, while Bushes earn less than $1M

(NEWSER) - Dick Cheney may report to George Bush, but he out-earned the president threefold last year, according to tax returns released yesterday. The first couple paid $221,635 in taxes on the $923,807 they made in 2007, ABC reports, while the Cheneys paid $602,651 on their $3,042,767—up $900,000 over last year's income. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Early Tax Returns in Jeopardy

Congressional stalling on Alternative Minimum Tax patch may force IRS delay

Congress • IRS • income tax • Alternative Minimum Tax

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

How Many Millionaires Paid No Income Tax in '09? 1,470

Average income fell 6.1%, new data shows

Another Temporary Budget Strains Federal Agencies

SEC can't hire; foreign aid money blocked; no end in sight

What If I Don't Feel Like Filing?

Christopher Beam explores the potential evader's options

Incomes Under $400K May Dodge Brunt of Tax Hike

AMT still higher

Cheney Makes Way More Than His Boss

VP's family rakes in $3M, while Bushes earn less than $1M

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?