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IRS to Reprogram Computers for AMT Fix

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IRS to Reprogram Computers for AMT Fix

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IRS to Reprogram Computers for AMT Fix

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STEVE INSKEEP, host:

NPR's business news starts with delays for millions of taxpayers.

(Soundbite of music)

INSKEEP: The Internal Revenue Service says that millions of Americans will have to wait an extra month before filing their 2007 tax returns - until mid-February. Here's the explanation for the delay: The IRS needs extra time to reprogram its computers to account for the recent fix to the Alternative Minimum Tax or AMT. Congress approved a one-year patch, as it's called, to that tax earlier this month. The AMT would have increased taxes for about 20 million middle- and upper-income households. That won't happen now, but the IRS does expect this filing delay to affect up to four million people.

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