Contact Us
Make My Homepage

IRS: 100-Million Taxpayers Face Delays Without System Fix

The Internal Revenue Service says up to 100 million taxpayers — about two-thirds of all filers — won’t be able to file their 2012 tax returns until late March if Congress doesn’t adjust the alternative minimum tax by the end of the year.

taxes
Flickr User 401K

Congress routinely adjusts the AMT to spare millions of middle-income taxpayers from steep tax increases. But the fix for 2012 is caught up in negotiations over the fiscal cliff.

Without a fix, the tax would hit an additional 28 million taxpayers. Others would face filing delays because the annual fix affects their tax credits.

The IRS assumed Congress would adjust the tax when it set up its computer systems. The agency says it would take until late March at the earliest to re-work its computers.

 

Copyright 2012 The Associated Press

 

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!