Friday, September 19, 2008

FROM THE HORSE’S MOUTH

Yesterday (Thursday) I attended the NJ chapter of the National Association of Tax Professionals’ Annual Meeting and Conference. Kudos to the chapter for an interesting mix of topics.

I just had to report to you what was stated by Lyle Lauterbach, the head of the NJ office of the IRS Taxpayer Advocate Service, in his presentation.

Lyle said that the economic “stimulus” rebate check program “has overwhelmed every aspect of the IRS”. He reported that so far 30,000 cases have been submitted to the Taxpayer Advocate Service regarding the economic “stimulus” payment (“ESP” as it is referred to by the IRS) and pointed out that because of the ESP, “everything that would normally take 60 days will now take 120 days”.

He did have some possible good news for those who, like my clients discussed in an earlier post, were “Royally Screwed”. The IRS has been dealing with the problem of a non-matching name and Social Security number as it relates to the economic “stimulus” rebate and expects to have a solution by October – so those who had been RS-ed could possibly receive a rebate check in November.

Lyle also told us what the initials IRS really stand for – “It Really Sucks”!

TTFN

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