Is the IRS processing the five forms affected by the AMT legislation?
Yes. The IRS began processing returns including the five forms on Feb. 11, as scheduled. The late start date for processing the five forms allowed the IRS enough time to update and test its systems to accommodate late changes to the AMT law without major disruptions to other operations related to the tax season. IRS News Release 2008-19 has more details. IRS began processing all other tax returns as normal starting in January.Who has been affected by the delays related to late passage of the Alternative Minimum Tax in December? More than 13 million taxpayers use any of the five specific forms affected by the AMT law: • Form 8863, Education Credits • Form 5695, Residential Energy Credits • Form 8396, Mortgage Interest Credit • Form 8859, District of Columbia First-Time Homebuyer Credit What about taxpayers who don’t use those five forms? No delays were expected for 125 million other taxpayers. For the vast majority of taxpayers, the filing season started on time in January. What is the
