For Immediate Release
Date: January 7, 2008
Contact: David Griffith
Phone: (573) 751-8222

Gov. Blunt's Directive Will Help Taxpayers Impacted by Washington's Late Action on AMT, Revenue Director Predicts Less Impact Due to Department's Actions

        JEFFERSON CITY – Following Governor Matt Blunt’s directive to minimize the impact on Missouri taxpayers due to late action in Washington to address the Alternative Minimum Tax (AMT); Omar Davis, Director of Revenue, today stated that delays will be less than previously expected due to the department’s actions.

        “I am very pleased the Department of Revenue (department) is following my directive to help lessen the impact on Missouri taxpayers caused by poor leadership in Washington,” Gov. Matt Blunt said.  “I do not believe in delaying the delivery of money that belongs to the taxpayers.  We are taking the appropriate steps to clean up Washington’s mess so Missouri taxpayers can get their tax refunds in the most timely manner possible.”

        The Internal Revenue Service (IRS) has announced that due to the late patch revisions made by Congress to the AMT will delay taxpayers from filing the following forms until February 11, 2008:
  
        * Form 8863, Education Credits
        * Form 5695, Residential Energy Credits
        * Schedule 2, (Form 1040A), Child and Dependent Care Expenses for Form 1040A Filers
        * Form 8396, Mortgage Interest Credit
        * Form 8859, District of Columbia First-Time Homebuyer Credit

        The department estimates that the filing season will start on time for 98% of Missourians.  Approximately 300,000 Missourians file the affected federal forms but less than 30% of affected Missourians file before February 11.

        The department advises the affected Missouri filers to make sure they have completed their federal returns using the revised federal forms prior to filing their Missouri return. The IRS noted in their press release of December 27, 2007, that the printed federal tax packages arriving in taxpayers’ mail around New Year’s, were printed prior to the AMT changes. The department is working closely with the IRS, tax professionals, and the tax preparation software community on the revisions necessary.

        As noted by the Governor, Director Davis reminds Missourians that “electronic filing is the fastest way to receive your refund and the most accurate method of filing.”

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