Last minute tax fix delays millions of refunds
Congress delayed processing of AMT related forms into February after a late fix shielding many from the tax. IRS estimates 3 to 4 million January filers will wait for refunds with an average of 2324 dollars. Up to 13.5 million may be affected by Feb 11 start date for forms. The delay stems from printing before the changes and an updated IRS site with new forms.
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Tax relief delay shifts refunds to February filing
The IRS delays affect five forms including TM 6863 5695 8396 8859 and 1040A Schedule 2 causing taxpayers to wait until February to file. Refunds for e filers with direct deposits arrive in 10 14 days, while paper filers face up to six weeks. Tax preparers urge electronic filing and amended returns once credits become available.
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