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Financial Planning / Tax Strategies
|Subject: Re: Lack of AMT patch by early Jan||Date: 12/29/2012 6:35 PM|
|Author: TMFPMarti||Number: 117240 of 121592|
I thought AMT patch for 2012 was enacted in 2011.
No, they never patched 2012. The IRS is warning that it could be the end of March before they can process some returns.
The press is reporting on only the "big news" items such as brackets and extending unemployment benefits so it's hard to tell whether any other expiring provisions, e.g., deduction of state/local sales taxes, are in the mix or not. If they do make a deal we'll likely have signed legislation before we have a chance to see all the details.
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