Saturday, December 22, 2007

I.R.S. says I’m Really Slow

Now that the AMT patch is behind us, many wonder how long it will take to process a return (and get your refund) for the coming season. According to the IRS it needs up to 10 weeks to reprogram systems for the AMT patch. A further detail of the possible delays from the IRS Oversight Board:

AMT Delays

So as it sits right now, the IRS processing of returns will be really slow for 2008. The patch was only extended for one year that makes many wonder how this will affect tax planning for the future. I am sure that we have not seen the last of the AMT issue.

Keeping You & Your Business N Synergy

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