2007 Tax Refunds Could Be Delayed, page 1
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ATS Members have flagged this thread 3 times
Topic started on 5-12-2007 @ 07:15 PM by highfreq

2007 Tax Refunds Could Be Delayed


commteam.houseenews.net
They say the two things certain in life are death and taxes, but your tax refund may not be so certain this year.

The problem is the alternative minimum tax, or the AMT. In 2006, about four million people were subject to the tax that ensures all Americans pay some minimum amount of tax regardless of how high your income is and how many deductions you qualify for. Each year th exemption amount must be approved by Congress. This year, Congress has yet to approve an exemption for the AMT.
(visit the link for the full news article)


reply posted on 5-12-2007 @ 07:25 PM by highfreq
reply to post by cloakndagger


Ya tell me about it. And I shamefully admit I am one of those people. My wife and I always file early, turn around and catch up on bills and ect...And yes with the credit crisis that America is facing right now, this probably won't be good news for the credit card companies. Not to mention the fact that some of us, which no one knows yet, will have to pay in.


reply posted on 5-12-2007 @ 08:06 PM by highfreq
reply to post by apc


Nobody said I was getting a fat return. About the only thing that helps are taxes is the credits we get for our children.

Could you explain to me how getting a refund, is loaning the Government money.I admit I am no expert on the tax code.


reply posted on 5-12-2007 @ 08:44 PM by highfreq
reply to post by apc


Ok I understand what your saying now Thank you for clairifying that for me.

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