AMT Relief
Posted by financialaidguy on December 20, 2007
Congress finally passed AMT relief for the 21 million tax payers that were likely to be affected next year. This is good news, as President Bush reported that he will sign the measure. Kay Bell does a great job of digesting the situation and offers more details here in her blog “Don’t Mess With Taxes”.
The IRS systems update remains a wild card at this point. If the IRS doesn’t get their systems updated in time, tax payers and financial aid recipients could still be negatively affected due to late filings. “Our people will do everything they can to quickly update our systems for this major change and make this filing season as smooth as possible for everyone,” said IRS Acting Commissioner Linda Stiff.
Advertisement
