Will this be the year without an AMT patch?

[Tad Borek]

It's always seemed unlikely but as far as I've heard a patch for 2010 isn't even in committee yet. Should we be doing tax estimates as if AMT isn't going to be patched this year?

-Tad

[Bob H]

This is a do-nothing congress. No estate laws. No income tax laws. Why should AMT be any different?

I'm not making light of it, but these idiots in charge are totally clueless.

Bob

[Bobbie]

Tad,


I, too, haven't heard a peep about AMT this year and it does matter for most of my clients, even those who have household incomes of under $250K which seems to be the magic "worry point" at this time. So we are forced to plan in a vaccum on this and, as noted, other issues. All I can do as we approach year end tax planning is to remind my clients that if AMT is not patched, the lower exemption amount is likely to cost them on average almost $5K extra in taxes. So at least we avoid surprises and I've learned that surprises seem to frustrate clients more than the actual tax bill.



Bobbie

[Reflective]

Perhaps, it is because the current group of dc stooges have no intent of doing anything about it or any taxes for that matter.