Property tax protests surge across states amid rising bills
In Indianapolis Maurice Gunyon, a 73 year old retiree, saw his property tax bill rise from about 2900 in 2005 to 7568 this year. Across the country state and local governments rely more on property taxes to cover revenue shortfalls as housing values climb. Authorities note five states cut taxes and 21 offered homeowner relief as lawmakers face growing pressure to curb rising levies.
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IRS delays refunds as AMT fixes push filings to February
Washington reports that Congress delayed growth of the alternative minimum tax triggering a shift of 3 to 4 million January filers to February. IRS will start accepting five AMT forms in February after earlier fixes allowed seven other AMT forms. About 13.5 million may wait, with average refunds around 2324 dollars. IRS regrets the disruption for early filers.
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Internal Revenue
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