IRS: Refund Will Be Delayed For 3 Million
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
WASHINGTON — More than 3 million people will have to wait until February to get their tax refunds because of Congress’s late fix to the alternative minimum tax, the IRS said yesterday.
Congress put a one-year freeze on growth of the alternative minimum tax last week, shielding many middle- and upper-middle income taxpayers from first exposure to the tax. But Congress’s late action means the Internal Revenue Service won’t be able to start processing five AMT-related forms until February, delaying potential refunds for those people until that month. Between 3 million and 4 million people filed in January for their 2006 taxes using those forms, with many expecting a refund, the IRS said. The average refund was $2,324, the agency said.
“We regret the inconvenience the delay will mean for million of early tax filers, especially those expecting a refund,” the acting IRS commissioner, Linda Stiff, said. As many as 13.5 million people will have to wait until February 11 to start filing with the five AMT-related forms, but only between 3 million and 4 million people file during the early tax season.
