32 Million Tax Refunds Could Be Delayed

AP ^ | 1 DEC 07 | By JIM ABRAMS

[roaddog727]

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.

[roaddog727]

Just another indicator of how "Well" this Democrat Controlled Congress" has done on getting ANYTHING accomplished.

As always,

Have at it.

[RDTF]

ugh

[Normal4me]

That fair tax is sounding better and better....

[roaddog727]

uhg.

Roger that.

Also, will we get interest on $ owed to us?

NFW

THIS CONGRESS SUX! They couldn't’t legislate their way out of a decomposed, soggy paper bag.

[Young Werther]

Flat Tax! Flat Tax! Flat Tax! Flat Tax!

Whoha!

[Sybeck1]

Silena sounds like an taker of the Earned Income Tax Credit or she wouldn’t think its a great idea to give the government 3K of her income interest free each year.

[VOA]

bump

[Graybeard58]

she wouldn’t think its a great idea to give the government 3K of her income interest free each year.

I couldn't find that in the article.

[hunter112]

She’s either too stupid to stop overwithholding, or too stupid to get her employer to give her advance EIC. I have zero pity for people who like to play “Christmas in April” with their own money.

[Man50D]

What we are witnessing is the accelerated meltdown of the income tax code. End the delays! Eliminate the Income tax code! Abolish the IRS! Pass The Fair Tax(HR25/S1025)! Fair Tax ping!

[MarkL]

Well, to be honest with you, if the FT had been implemented, in this situation the government would not be able to send out the monthly "prebate" checks... And wouldn't that be a cool thing to sabotage the whole thing!

Mark

[mdmathis6]

Okay....what I don’t get is this....they are worrying that 25 million folks are gonna get hit with the amt this year; that is 21 million more than last year. Are they worried that if they adjust the amt to a more realistic level they will lose revenue that will have to be balanced by raising other taxes ? What revenue have they lost to begin with if this year certain folks did not pay the amt but next year they’d have to (but didn’t because the amt was adjusted)?

[B4Ranch]

IMO this 32 million people who have no right to ever complain about taxes. Fools overpay the IRS.

[robomatik]

if you get a refund, why dont they lower the tax rate because this is a sign of you paying too much in the first place? oh yeah, its the gubmint.

[BurbankKarl]

I read the yahoo article. They changed the AMT levels...but had to raise taxes on investment fund managers to make the changed revenue neutral. That wont pass, so the whole legislation is going to fail, and may be even vetoed.

[ovrtaxt]

Silena Davis had counted on an early tax refund to pay for getting her teeth fixed

Hmm. I guess poor Silena will haf to be snaggletoof fo a bit wonger...