Moultrie Observer

Local News

January 12, 2013

CORRECTION: IRS delays processing of taxes

MOULTRIE — An article in the Friday Observer contained incorrect information about tax policy adopted by Congress.

Dennis Futch of the Tax Shop told The Observer Saturday that the legislation contained a permanent fix for the alternative minimum tax, set a $5 million deduction for estate taxes with an adjustment for inflation in future years, and provided permanent extenders for "marriage-penalty" relief as well as liberalized child- and dependent-care rules, expanded adoption credit, employer-provided child care credit, exclusion for employer-provided educational assistance and expanded above-the-line student loan interest deduction.

The Observer regrets the error.

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