A new report from the Congressional Research Service highlights the need for legislative action on the alternative minimum tax (“AMT”). Without a change in the law, some 34 million taxpayers will incur this tax in 2012. (more…)
Archive for August, 2011
AMT Patch Needed for 2012
Wednesday, August 24th, 2011Erroneous Disallowance of Homebuyer Credit
Wednesday, August 17th, 2011A report in Tax Notes indicates numerous taxpayers who claimed the original version of the first-time homebuyer credit have received (or will receive) erroneous letters telling them they don’t qualify for the credit. The IRS is aware of the problem and working on a correction.
