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Saturday, November 17, 2012

IRS Cries Fiscal Cliff Blues

The Internal Revenue Service is warning Congress: the fiscal-cliff limbo is messing up preparations for tax filing season. Acting Commissioner Steven Miller sent a letter to the leaders of the Senate Finance and House Ways and Means committees. In it, he said the filing season could be disrupted substantially because of uncertainty over the Alternative Minimum Tax and expiring tax breaks. Miller said the IRS normally starts preparing for the filing season the summer before. That's when it trains customer-service employees, modifies tax forms and reprograms its technology to reflect changes in tax laws. The Wall Street Journal published Miller's letter

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