Will Equipment Inventory Prevent IRS Y2K Readiness?

The IRS may not be ready for Y2K as previously planned, according to a recent letter addressed to House Ways and Means Committee Chair Bill Archer.

Problems include equipment and software that may not be Y2K ready at offices around the country. The agency says it has contingency plans in place, but in the event the IRS is not ready for the new year, the agency reports it could end up manually issuing some tax refunds.

If it came to this, IRS Commissioner Charles Rossotti said that manual refunds would be issued to taxpayers who are most in need of funds.

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