Shulman Urges Congress To Act on Tax Law

If Congress does not act before the end of the year or tries to create retroactive tax laws, a disaster could ensue during the filing season when everyone is confused about the existing tax law. Last year, some taxpayers did not get to file their returns until mid-to-late February because the IRS was reprogramming its processing system to catch up with the laws Congress made in December 2010.

The IRS commissioner Douglas Shulman warned of these effects last Thursday. He noted that lawmakers need to decide on the Bush tax cuts from 2001 and 2003 that are set to expire at the end of this year, the alternative minimum tax, and several other already-expired tax breaks. Shulman also noted that he will be stepping down from the commissioner position in the autumn when his term ends.

See Jim Abrams, IRS Commissioner Douglas Shulman Warns of Congressional Inaction On Taxes, Huffington Post, Apr. 5, 2012. 

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.