Fiscal Cliff Tax Refund Delay

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Your tax refunds may be delayed this year because of the last minute deal on the fiscal cliff. If you look at the 10-40 form from 2012 several lines are listed as reserved.

An IRS spokesperson says those are placeholders for several fiscal cliff provisions, like the alternative minimum tax.

The IRS put out a statement saying quote:  “The IRS is currently reviewing the details of this week's tax legislation and assessing what impact it will have on this year's filing season.” 

The IRS say they plan to issue additional guidance soon.

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