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Internal Revenue Commissioner Shulman announces he will be stepping down in September when his five-year term ends. The announcement comes after a speech at the National Press Club where he predicts huge problems if Congress fails to act on a number of key proposals. “If Congress can't act by the end of the year, and even starts to think about retroactive legislation of things like the AMT (alternative minimum tax), which have already expired, you could have a real disaster in the filing season, where there is total confusion, where some people are filing under one law and others under another,” Shulman says.
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