Thread: IRS tax law changes??

I was called by my manager today. She offered me a newly-created Assistant Manager position (in a national tax prep office), and wants me to start next Thursday! Then she wants me to train the noobs on the computer in time for tax season to start (officially, Jan 8th)!! Woot!!!

LOL

Anyway, the point of this post is because she told me that we MAY have an electronic filing issue until the middle-to-end of February. She said the IRS has just posted notice that they *may* implement some changes to the tax law, effective in January for filing 2007 returns, that will help somewhere around 46 million taxpayers. The problem is that the IRS will not have their computer systems ready to accept E-filed returns with the new changes until late February.

I do NOT know exactly what the changes are, but I figured you could all use some good news, especially in the tax area.

So, keep an ear out for what's coming. One other possibility is that the IRS will wait to implement the changes until March, then work retroactively to send checks to taxpayers who qualified in Jan and Feb.

Good luck!

Thanks for the heads-up. Yipeeeeeeeeeeeee

We are thinking GOOD changes?

Why are they making the changes now? I guess I don't understand.

I sold a home, PLEASE PLEASE make it for capital gains.. like NO CAPITAL GAINS!!!!

My husband sold a home too. If you lived in the house you sold for 2 of the last 5 years, you are exempt from paying capital gains tax on the first $250,000 in profit.