Wall Street Journal, The New Tax Law: Alimony Alternative Minimum Tax Child and Dependent Tax Credits Deductions for Charitable Donations Depreciation Education-Savings Accounts (529) Estate and Gift Tax Home Sellers’ Exemption How Will...Show More Summary
The Tax Cuts and Jobs Act (aka Trump Tax Plan) will be a game changer for corporations; the elimination of the Alternative Minimum Tax (AMT) and consolidation of tax rates down to 21 percent – are all permanent. But, what does it mean...Show More Summary
The Tax Cuts and Jobs Act will temporarily reduce alternative minimum tax liability, but retain the complexity inherent to the tax.
There's a tax bill, but there is no tax reform. There's still an estate tax. There are still (some) state and local itemized tax deductions. There's still an alternative minimum tax. And there are enough other tweaks to confuse filers and keep tax pros very busy over the next 12 (or more) months. Show More Summary
The Senate’s last-minute decision to preserve the corporate alternative minimum tax (AMT) has drawn strong opposition from business and its advocates. Its fate now lies...
Wall Street Journal op-ed: End the Alternative Minimum Tax, Don’t Mend It, by Richard Schmalbech (Duke): There are many unfortunate provisions in the tax-reform bills recently passed by the House and Senate, but at least one good one: The House bill would repeal the Alternative Minimum Tax. The Senate bill,...
Senate Republicans — shocker! — are discovering a bevy of errors and missteps in their tax bill rushed through in the middle of the night. Business Insider reports that a hasty decision to keep in place the alternative minimum tax for corporations “could have major consequences for businesses, such as eliminating the benefit of the […]
The individual alternative minimum tax (AMT) looks like it may survive yet another tax overhaul. But the latest incarnation of the tax may look very...
The chief Republican tax writer in the U.S. House of Representatives said on Tuesday that House Republicans want tax legislation to eliminate the corporate and individual alternative minimum taxes. "House members... feel strongly that the House position should be to repeal permanently both the individual and the corporate," U.S. Representative Kevin Brady told reporters.
Senate Republicans passed their massive tax bill in the wee hours of Saturday morning. A last-minute change to keep in place the corporate alternative minimum tax could lead to a number of unintended consequences and suppress research...Show More Summary
The GOP's proposed tax reform bill will give a boost to the wealthiest in the country. Repealing the estate tax and the alternative minimum tax (AMT) are just two of the ways rich Americans could benefit. Meanwhile, the typical American...Show More Summary
The House GOP's proposed tax reform bill will give a boost to the wealthiest in the country. Repealing the estate tax and the alternative minimum tax (AMT) are just two of the ways rich Americans could benefit. Meanwhile, the typical American family will get a tax cut of $1,182. Show More Summary
The way the state and local tax deduction, alternative minimum tax, and Pease limitation interact is complex. This primer makes things easier to understand.
Enough of the GOP’s proposed tax changes so obviously tilt toward the rich (e.g. repeal the alternative minimum tax, create a 25 percent pass-through rate) that you may have figured out the “middle-class tax cut” is more like “a corporate and rich guy tax cut.” Now we know exactly how much the rich gain. The […]
John Cassidy writes about Donald Trump’s latest proposed tax bill, which would repeal the Alternative Minimum Tax and benefit corporations and wealthy people.
Welcome to Part 7 of the ol' blog's series on 2018 inflation adjustments. Today we look at changes to the Alternative Minimum Tax exemption amounts and next year's Social Security wage base. You can find links to all 2018 inflation posts in the first item: Income Tax Brackets and Rates. Show More Summary
In 2015, 4.4M individual payers paid $26.4B in AMT. Some say AMT repeal would result in a federal budget shortfall and affect some taxpayers adversely.
The House Republican leadership and the Trump Administration want to repeal the state and local tax (SALT) deduction and the individual Alternative Minimum Tax (AMT)...
Advocates for criminal justice reform packed a Statehouse hearing to argue for new laws they say would promote rehabilitation in lieu of prison sentences. Proposals to end mandatory minimum sentences … Click to Continue »
Like many of the five million tax filers who must pay the Alternative Minimum Tax (AMT), I am trapped. I wrote a big check to...