Rumor about filing taxes

[wooisme]

I don't know how true this is but I heard a rumor that because congress has screwed around so much that we may not be able to file our taxes much before feb of 08 and that the returns are going to be backed way up and refunds are going to be given very late!

I bet that's gonna mess a lot of things up and might push the april 15th dead line to file until may or june.

[rrockinggramma]

I do not know if what you posted is true or not but there is an issue with the AMT tax that was enacted many years ago. According to reports on the news TV stations, this tax will now effect over 14 million middle class citizens this coming tax year and congress was trying to fix it. But of course, if they do, it means less money going to the government so they are not doing anything with it right now. They have til Jan 1 to get it fixed I think.

[oldbaddebts]

They don't have until Jan 1 because it takes time for the IRS to update the computer systems, all of the forms and get the data out so all of the software and preparation companies can retrain and retool their software. They are already looking at being delayed on starting the filing season, they just don't know how long.

The OP posted this before the news got widespread, but it is well out as of now. It would be lousy for the people expecting a refund, but I can only hope they push back the April 15th deadline so I can have more time to pay!

[CATCHMEIFYOUCAN]

http://news.yahoo.com/s/ap/20071201/ap_on_go_ot/tax_hit

copy and paste, got it off YAHOO ! ! !

WASHINGTON - Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291.
The Internal Revenue Service is looking hard at delaying the start of its filing season, set to kick off on Jan. 14, if Congress fails to pass legislation in the next two weeks. At issue is how to handle what could be a dramatic increase in the number of people facing a higher alternative minimum tax. If there is a delay and it extends into mid-February, it would slow nearly 32 million refunds worth a total of about $87 billion, the IRS Oversight Board predicts
"It would definitely make a big difference with me," said Davis, a George Washington University Law School administrator. "I'm going to have to get a crown and it's going to be really expensive."

The report is long, so I'll cut it short here .. if you want to read more than copy and paste that link:

http://news.yahoo.com/s/ap/20071201/ap_on_go_ot/tax_hit

BEST TO ALL, CATCHMEIFYOUCAN