Some AMT forms delayed

Cannon Air Force Base The Internal Revenue Service announced that the upcoming tax season is expected to start on time for everyone except certain taxpayers potentially affected by late enactment of the Alternative Minimum Tax AMT “patch” passed in late December by Congress. The February delay caused by the AMT patch will affect taxpayers using […]

Alternative minimum tax should be repealed

Editorial According to the New York Times, “House Democratic leaders, in an effort to upstage Republicans on the issue of tax cuts, are preparing legislation that would permanently shield all but the very richest taxpayers from the alternative minimum tax, which is likely to affect tens of millions of families as early as next year […]