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Tax refunds in jeopardy next year

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in Small Business Tax,Small Business Tax Deduction Strategies

If the IRS Over­­sight Board is correct, many taxpayers will be asking “Where’s my re­­fund?” next year.

The nine-person panel anticipates that 2012 refunds will be delayed if Con­gress again enacts late legislation extending tax provisions that are set to expire.

The IRS says that it needs six to eight weeks to accommodate changes in its forms and other documents.

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