After much wrangling between Dems and Reps, the AMT patch for TY 2007 has been passed. President Bush will likely sign it tomorrow or Fri.
The Reps stood firm and forced the Dems into a patch that basically had not revenue offsets. Not sure how we will pay for this patch without offsets somewhere, but at least it has been passed.
Now the rub....because it has taken so long to pass the patch, it is going to take awhile for the Service to reconfigure all their software to reflect the patch. Some estimates are at 8 or 10 weeks. This means no income tax returns processed until at least early to mid February.
Breathe easy....for now. The patch is only good for one year.
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"Everyone is against me. Everyone is fawning for 3D's attention and defending him." -- SeattleUte
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