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October 2, 2007 by Brian Germer, CPA - Parsons & Grinage CPAs
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Just read your brief article warning of complications in the delay of passing an AMT patch. Uncommon insight! Also noticed that IRS is officially warning of HUGE delays in processing returns and refunds. The Dems have won a big one here — they will say the delays and all the confusion are the GOPs fault for not approving their bill, and the chaos will peak during the summer and fall of 2008, JUST IN TIME TO AFFECT THE ELECTIONS.
Do you have some up-to-the-minute source for tracking the destiny of the patch for 2007? The amount of the patch. and therefore the timing of announcement have a significant effect on my 2007 taxes, and I need to take several actions in the next 10 days.
Thanks for your interest in the AMT situation.
Thanks!
I haven’t found a really good current website with updates on the US Senate, so I have been searching Yahoo! news for anything to do with AMT or H.R.3996. There are some developments today and they are finally battling it out, although you have to watch the bias of some articles because a “clean” patch bill with no offsets means no offsets to pay it. Several new articles claimed the Democrats were offering a “clean” bill with no offsets, but then I read further articles and the bills still incorporation “taxation” or a way to pay for the bill.