AMT Patch FINALLY Approved!

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Yesterday, House Democrats agreed to the 1-year AMT patch proposed by the Senate that will benefit over 20M taxpayers… but that doesn’t mean the tax code is ready quite yet. The IRS will now need to adjust all tax code and forms before they […]

House Passes AMT “Fix”

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If you continue to follow the AMT saga, the House today passed a temporary fix to the AMT laws. However, it’s very likely that this fix will not make it through the Senate, which passed its own AMT fix.
Republicans contine to argue that […]

Still no Decision on an AMT Patch

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Well, this is turning out to be a bit of a soap opera. Here we are, with a couple of weeks remaining in 2007, and no resolution on the alternative minimum tax (AMT) patch that would prevent up to 20M tax filers from having […]

December, and No AMT Resolution Yet!

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The AMT laws are creating quite a unique income tax situation this year. It’s December 2, and Congress is still undecided on what to do. As it stands, 23 Million Americans will be impacted by the AMT laws (which means ~$2,000 in higher […]