Alternative Minimum Tax News
Trump Admits His New Tax Plan 'Is Going to Cost Me a Fortune'
The presidential candidate unveiled his new tax plan, calling for higher taxes on the rich.
What Jeb Bush's Tax Plan Might Mean for You
Of all the topics U.S. voters have to understand, none is more complicated than taxes. Think 80,000 pages of convoluted code, abstract loopholes and what seems like innumerable exemptions. Confused yet? Republican presidential candidate Jeb Bush said he wants to change all that. “Of all the
Tax Tip: What You Need to Know About the Alternative Minimum Tax
The Alternative Minimum Tax affects about 23 million higher-income taxpayers, but do you know what it means for you? "The Alternative Minimum Tax is a tax that was put into effect a number of years ago, and it's designed to make sure that most people pay at least some tax," IRS spokesman Eric Smith
Tax Tip: Uncle Sam Can Help You Pay Tuition
The cost of higher education has been skyrocketing lately, but a tax benefit might be able to take a little sting out of the expense. For the past five years, the tax code has offered the American Opportunity Credit. “You could receive as much as...
Tax Tip: Avoiding the Alternative Minimum Tax
The alternative minimum tax may be one of the more complicated rules in the tax code, but it’s important to know. Its origins date back to 1969, when it was created “because Congress was embarrassed because somebody did a study that discovered that about 24...
Top 15 Most Frequently Asked Tax Questions
TurboTax's tax experts have fielded thousands of questions from tax filers, and the questions tend to ebb and flow with changing economic times. This year's most popular question is related to confusion over who can be claimed as a dependent, says Lisa Greene-Lewis, lead CPA with the American Tax
The 9 Most Contentious Fiscal Cliff Tax Issues
While Congress has yet to discuss spending cuts to defense and domestic programs, they have drawn the line on tax increases and tax break extensions. Some businesses are happy about certain temporary tax credits, like the R&D credit, which expired in 2011, that Congress retroactively extended
Done Deal - For Now (The Note)
By MICHAEL FALCONE (@michaelpfalcone) and AMY WALTER (@amyewalter) NOTABLES: WE’VE GOT A DEAL: Congress waited to the last minute — and beyond — but a deal finally got done. ABC’s Devin Dwyer, John Parkinson, and Sunlen Miller report: The House of Representatives approved a bipartisan...
Ding Dong, Is the AMT Patch Finally Dead?
The wicked witch of the tax code is almost dead. By passing the “fiscal cliff” deal hammered out between the White House and Senate Republicans, Congress has finally found a permanent patch to the Alternative Minimum Tax, a piece of tax code that has morphed...