Tag Archive: "amt"
Part of the ongoing Alternative Minimum Tax (AMT) mess over the last several years involved the allowance of certain nonrefundable individual tax credits such as the adoption credit, the child and dependent care credit, the lifetime learning credit and other similar credits to be allowed to reduce AMT. In some years it was allowed whereas in […]More
Steven Miller, Acting Commissioner of the IRS wrote a letter dated November 13, 2012 to select members of Congress informing them on the possible delays in processing 2012 income tax returns if the AMT patch is not enacted. Under current law, it is estimated that 28 million additional taxpayers will pay some Alternative Minimum Tax (AMT) for […]More