Congressional Douchebags of the Day!
Because Congress took forever to deal with the Alternative Minimum Tax issue, the IRS isn’t yet ready to process related forms for an estimated 13.5 million tax filers. Those filers - many of whom will likely get refunds - won’t be able to file their 2006 tax returns until February.
The five forms affected by the delay are:
Form 8863, Education Credits.
Form 5695, Residential Energy Credits.
Form 1040A’s Schedule 2, Child and Dependent Care Expenses for Form 1040A Filers.
Form 8396, Mortgage Interest Credit and
Form 8859, District of Columbia First-Time Homebuyer Credit.
Taxpayers using those forms will have to wait until February to file their taxes and the IRS will begin processing those forms on Feb. 11. The first refunds for those people will start going out 10 to 14 days later. So, is the IRS going to pay interest to those taxpayers? Nope.
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