Don’t Rush To Do Your Taxes
If you itemize deductions using the Schedule A, don’t get in a rush to file as the IRS has announced that 50 million taxpayers must delay filing until Valentine’s Day at the earliest.
Congress screwed around and then finally passed a tax bill in mid-December, so the IRS has to make all kinds of changes to its system so that it can deal with what is now the law. Lets be clear on this, this is the fault of Congress. If they had done their job and passed this stuff before October 1st when the Federal fiscal year begins, the IRS would have been ready.
I was involved in accounting systems for years and I know exactly what the IRS is going through. I would be working through Christmas to change and debug payroll systems so they would reflect the new laws that would be effective for the first payroll in January. The Congresscritters and their patrons don’t know or care about all of the extra costs that business has to absorb when they play games like this and pass things at the last minute.
