Even though the bill moving through Congress now that contains retroactive tax provisions passed the House quickly with a rare bi-partisan vote, it looks like the Senate is at a stand-still.
With plenty of other issues for the Senate to vote on, the GOP is in no hurry to push the bill through and instead wants to consider adding amendments. On top of that, the Senate is now on a two-week recess as of Friday, February 9th. We likely won't know the final provisions until March.
What does that mean for you? You could wait to file until they announce the final rules to avoid the possibility of needing to amend your return. With the increase in tax identity theft fraud, you may decide it's better to file now and deal with the inconvenience of amending your return later. It will beat having to go through the lengthy process of tax identity fraud recovery.
By Mark Toney
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