The Internal Revenue Service is pushing back the printing schedule for a number of its tax products, including several versions of the 1040 and 1099 forms.Earlier this month, the IRS warned the Senate Finance Committee tax staff that delays in enacting a number of expiring tax breaks could have an adverse impact on tax administration -- affecting outside contracts with vendors to get the forms and instructions printed, and possibly eventually having a negative impact on collections.
Among the breaks not tackled by Congress as the option to deduct state and local sales taxes in place of state income tax, a deduction for college tuition and fees, the deduction for school teachers, and a research and development credit for business. Many tax forms will be released prior to the “lame duck” session of Congress, which is the earliest opportunity for renewal of the cuts.
What, if any, impact the delay will have on the publishers of do-it-yourself tax-prep software remains to be seen.
The list of delayed forms, as of Oct. 25, was removed earlier this week from the IRS Web site. A new page on the site, available at www.irs.gov/formspubs/article/0,,id=103641,00.html, instructs visitors requiring more information on the status of a tax product to email the agency directly.
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