(Archived Content)
2007-10-23-16-30-35-14775
Secretary Henry M. Paulson , Jr. sent letters to three members of the House and Senate tax committees today urging them to enact an AMT patch quickly this year or else 25 million Americans will be forced pay more taxes for this year--21 million more Americans than in 2006. Addressing questions sent to the Treasury Department by Sen . Grassley, and Reps. McCrery and Reynolds, Paulson also added that an additional 25 million taxpayers--50 million total--would face refund delays due to IRS processing of certain tax credits, including the dependent child tax credit. With a delayed AMT patch those 50 million taxpayers would see $75 billion in refunds delayed for weeks.
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