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2013-01-02 8:44 PM

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Subject: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...

Why is the IRS saying that forms and refunds and filing for 2012 tax year might be delayed?

If the old rules didn't expire until 31 Dec then the IRS should have had all the info they needed for 2012 tax returns and filing....nothing new comes until the 2013 returns, right?

I don't understand....



2013-01-03 7:15 AM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
The 2012 AMT floor has been adjusted up. I think this is a permanent upward adjustment with CPI escalators. Since 2000 they have been passing one year fixes. I think we had the same small delay for the 2010 filing year.

I believe this is the only 2012 item in the bill.
2013-01-03 12:13 PM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
So they had ONE thing to watch...they KNEW what this one thing was...and somehow they weren't ready for it?  What?
2013-01-03 12:26 PM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...

jldicarlo - 2013-01-03 1:13 PM So they had ONE thing to watch...they KNEW what this one thing was...and somehow they weren't ready for it?  What?

Are you really shocked that our government is inefficient and unprepared?  Really?

2013-01-03 12:28 PM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
If nothing happened the AMT threshold would have reverted back to the 2000 level. They couldn't just assume that was going to happen. They also couldn't assume that it was going to go up, even if they did assume that, what was it going to go up to?

In doing more research there seems to be about a dozen things for the 2012 returns, education and other credits mostly. I agree, it seems like it should just be a simple plug in the number thing and we are all set to go. I think the IRS is giving themselves a little wiggle room here and we will see them begin accepting returns on the 22 as originally planned.

Like I said earlier in 2011, they pushed that date back to 2/14, we shall see. In 2011, they had a backlog of around 9 million returns when they started accepting them 2/14.

Edited to correct conflicting dates.

Edited by Its Only Money 2013-01-03 12:58 PM
2013-01-03 12:50 PM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...

All I can say is "If Turbotax is ready, then the government should be ready!!!"



Edited by jgaither 2013-01-03 12:51 PM


2013-01-03 2:38 PM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
TriRSquared - 2013-01-03 12:26 PM

jldicarlo - 2013-01-03 1:13 PM So they had ONE thing to watch...they KNEW what this one thing was...and somehow they weren't ready for it?  What?

Are you really shocked that our government is inefficient and unprepared?  Really?

what do you mean....the 2% increase in social security was ready!!! they are like a well oiled machine!!  i already see it in (or out) my paystubb for tomorrow.

2013-01-03 2:40 PM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...

Its Only Money - 2013-01-03 12:28 PM If nothing happened the AMT threshold would have reverted back to the 2000 level. They couldn't just assume that was going to happen. They also couldn't assume that it was going to go up, even if they did assume that, what was it going to go up to? In doing more research there seems to be about a dozen things for the 2012 returns, education and other credits mostly. I agree, it seems like it should just be a simple plug in the number thing and we are all set to go. I think the IRS is giving themselves a little wiggle room here and we will see them begin accepting returns on the 22 as originally planned. Like I said earlier in 2011, they pushed that date back to 2/14, we shall see. In 2011, they had a backlog of around 9 million returns when they started accepting them 2/14. Edited to correct conflicting dates.

I guess I just don't understand how if things like education credits were supposed to expire on 31 Dec, how does that affect filing for 2012?  It shouldn't affect filing until 2013...IRS shouldn't have to do ANYTHING for that right now....

2013-04-27 5:17 AM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
It's simple, really:

If the IRS owes you money, they can pay up whenever they feel like it.

If you owe the IRS money, you must pay within a minute or you get slammed with fees and interest compounded hourly.

2013-04-27 5:19 AM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
irishgirlz - 2013-04-27 4:00 AM

But are Americans really taxed too seriously?


Yes.

irishgirlz - 2013-04-27 4:00 AM


A survey of the rates of other countries cast doubt.


Irrelevant. It's not a race, it's not a popularity contest, it's an internal matter.

How many other countries do people literally risk death to immigrate to? That, alone, says we're doing something right.


Edited by DanielG 2013-04-27 5:23 AM
2013-04-27 6:47 AM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...

Spam... and I probably would not click on the link.



2013-04-27 8:40 AM
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Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
DanielG - 2013-04-27 5:19 AM.How many other countries do people literally risk death to immigrate to? That, alone, says we're doing something right.

That's not a good qualifier. People risk death to go to China from NK, to go to Syria from Iraq (and now vice versa), etc etc. people from Mexico would gladly stay if Mexico didn't suck so bad right now.

In almost every migration, people are running from, not to.

2013-04-27 8:44 AM
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Austin, Texas or Jupiter, Florida
Subject: RE: If new rules from the "fiscal cliff fiasco" didn't go into affect until 1 Jan...
Jen, you bring up a great point. I don't have the answer. But I do think it's interesting that with the spending cut, the economy has grown this Quarter pretty well. Government spending was down, corporate spending was way up. Interesting how that works.
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