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IRS to Reprogram Computers for AMT Fix
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The Internal Revenue Service says millions of Americans will have to wait until mid February before filing their 2007 tax returns. Why the delay? The IRS needs the extra time to reprogram its computers to account for the recent fix to the alternative minimum tax, or AMT. Congresses approved a one-year "patch" to the tax earlier this month. The AMT would have increased taxes for about 20 million middle- and upper-income households. The IRS expects the filing delay will affect up to 4 million people.
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