ROB: My IRS Tax Payment will be delayed until July due to Congress’ late fix to the Alternative Minimum Tax.
If the IRS can pay late without penalty, then dammit, I should be able to as well.
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 IRS said Thursday. Congress put a one-year freeze on growth of the alternative minimum tax last week, shielding many middle- and upper-middle income taxpayers from first exposure to the tax. But Congress’ late action means the Internal Revenue Service won’t be able to start processing five AMT-related forms until February, delaying potential refunds for those people until that month. Between 3 million and 4 million people filed in January of last year using those forms, with many of those people expecting a refund, the IRS said.