I can't tell you why there hasn't been a hue and cry about this. Maybe it's just because the baby boomers aren't quite old enough to be affected by it yet.
More Quotes from Mark Luscombe:
Because of the AMT, some people are not able to take advantage of the tax cuts that Bush made available.Mark Luscombe
You don't have a filing requirement because you don't have a tax due. But if you had withholding, you've paid tax. It's worth your while to file a return to get your money back.
Mark Luscombe
People who don't live in presidential-declared disaster areas get help, but not the most help or the quickest. Those in declared disaster areas but not in the Hurricane Katrina-Rita-Wilma areas get more help quicker, while those in the Katrina-Rita-Wilma disaster areas get most.
Mark Luscombe
Once they file for an extension one year, it sort of becomes a habit. I know people who do it regularly who don't have any particular reason they couldn't have had their information together by April 15.
Mark Luscombe
Compared to some other tax issues, like passive loss rules and stuff like that, it's not all that complicated, but people involved in things like passive loss rules can usually afford to pay for some sophisticated help.
Mark Luscombe
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Let me explain what I do here. I don't want to confuse you any more than absolutely necessary.
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