The two also agree Congress is likely to come up with yet another short-term fix that doesn't address the underlying problems in the tax code. "They'll solve the problem for 2012. Then they have to do it again in 2013," Kreider says. "They have to look for a more permanent fix."
[Read: Avoid These 10 Common Tax Mistakes.]
If no solution is found, the 2012 tax season will be a mess, according to Miller. In his letter to Hatch, the acting IRS commissioner said the agency did not reprogram its computer systems to account for the AMT.
If Congress passes an AMT patch, "The IRS would likely be able to open the 2013 tax-filing season with minimal delays for most taxpayers," Miller wrote. He then warned: "However, if there is no AMT patch enacted by the end of the year, there would be serious repercussions for taxpayers."
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