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32 Million Tax Refunds Could Be Delayed
| 1 DEC 07
| By JIM ABRAMS
Posted on 12/01/2007 2:28:15 PM PST by roaddog727
WASHINGTON - Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291.
The Internal Revenue Service is looking hard at delaying the start of its filing season, set to kick off on Jan. 14, if Congress fails to pass legislation in the next two weeks. At issue is how to handle what could be a dramatic increase in the number of people facing a higher alternative minimum tax.
(Excerpt) Read more at msnbc.msn.com ...
TOPICS: Government; News/Current Events
KEYWORDS: congress; irs; taxes; yourtaxdollarsatwork
Just another indicator of how "Well" this Democrat Controlled Congress" has done on getting ANYTHING accomplished.
Have at it.
posted on 12/01/2007 2:31:09 PM PST
("Courage is resistance to fear, mastery of fear - not absence of fear". Mark Twain)
That fair tax is sounding better and better....
posted on 12/01/2007 2:34:17 PM PST
Also, will we get interest on $ owed to us?
THIS CONGRESS SUX! They couldn't’t legislate their way out of a decomposed, soggy paper bag.
posted on 12/01/2007 2:35:40 PM PST
(BS does not get bridges built)
Flat Tax! Flat Tax! Flat Tax! Flat Tax!
posted on 12/01/2007 2:36:43 PM PST
by Young Werther
(Julius Caesar (Quae Cum Ita Sunt. Since these things are so.))
Silena sounds like an taker of the Earned Income Tax Credit or she wouldn’t think its a great idea to give the government 3K of her income interest free each year.
posted on 12/01/2007 2:38:59 PM PST
(Join me for the Million Minutemen March --- Summer 2008!!)
posted on 12/01/2007 2:40:49 PM PST
she wouldnt think its a great idea to give the government 3K of her income interest free each year.
I couldn't find that in the article.
posted on 12/01/2007 2:49:53 PM PST
( Remember and pray for SSgt. Matt Maupin - MIA/POW- Iraq since 04/09/04)
She’s either too stupid to stop overwithholding, or too stupid to get her employer to give her advance EIC. I have zero pity for people who like to play “Christmas in April” with their own money.
posted on 12/01/2007 3:01:24 PM PST
(Change will happen when very good men are forced to do very bad things.)
To: Normal4me; ancient_geezer; Taxman; pigdog; Principled; EternalVigilance; PhilWill; kevkrom; ...
What we are witnessing is the accelerated meltdown of the income tax code. End the delays! Eliminate the Income tax code! Abolish the IRS! Pass The Fair Tax(HR25/S1025)! Fair Tax ping!
posted on 12/01/2007 3:05:37 PM PST
(Fair Tax, you earn it, you keep it! Duncan Hunter is a Cosponsor.)
Well, to be honest with you, if the FT had been implemented, in this situation the government would not be able to send out the monthly "prebate" checks... And wouldn't that be a cool thing to sabotage the whole thing!
posted on 12/01/2007 3:13:45 PM PST
(Listen, Strange women lyin' in ponds distributin' swords is no basis for a system of government)
Okay....what I don’t get is this....they are worrying that 25 million folks are gonna get hit with the amt this year; that is 21 million more than last year. Are they worried that if they adjust the amt to a more realistic level they will lose revenue that will have to be balanced by raising other taxes ? What revenue have they lost to begin with if this year certain folks did not pay the amt but next year they’d have to (but didn’t because the amt was adjusted)?
IMO this 32 million people who have no right to ever complain about taxes. Fools overpay the IRS.
posted on 12/01/2007 3:40:17 PM PST
(( "Freedom is not free, but don't worry the U.S. Marine Corps will pay most of your share." ))
if you get a refund, why dont they lower the tax rate because this is a sign of you paying too much in the first place? oh yeah, its the gubmint.
I read the yahoo article. They changed the AMT levels...but had to raise taxes on investment fund managers to make the changed revenue neutral. That wont pass, so the whole legislation is going to fail, and may be even vetoed.
Silena Davis had counted on an early tax refund to pay for getting her teeth fixed
Hmm. I guess poor Silena will haf to be snaggletoof fo a bit wonger...
posted on 12/02/2007 3:19:08 AM PST
(You're a destiny that God wrapped a body around.)
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