Sunday, October 29, 2006
The IRS has posted a Tax Products Posting Schedule, which lists publication dates for various IRS instructions, forms, and publications. Senator Baucus's office issued a press release critical of the delay in the release of these materials:
Senator Baucus noted repeatedly this year that congressional delays in renewing a number of expired or expiring tax cuts would likely result in the omission of those tax cuts from annual tax forms. He also noted the potential for delays and errors in popular tax software that goes on sale in the early fall each year. The updated schedule confirms that many tax forms will be released prior to the “lame duck” session of Congress, which is the earliest opportunity for renewal of tax cuts such as the state and local tax deduction contained on Form 1040 Schedule A. Additionally, the date for publication of the standard 1040 form has been moved forward to late November.
"Another consequence of repeated delays on these tax cuts is about to come to pass, and the American people will pay the price," said Baucus today. "Even if Congress acts in the ‘lame-duck’ session, many Americans likely won’t get the full picture of tax cuts available to them for 2006. The best we can do now is to move quickly in November, and give the IRS as much time as possible to try to clean up the problems caused by Congress’s failure to get the job done."