amt

Taxpayers love deductions and credits -- and why not? The number of deductions and credits in the Tax Code allows you to reduce your taxable income and tax due. But what if you could deduct everything? What if your super pricey home meant your home mortgage interest deduction was sky high? Or if...

The recession may be over, but many families are still feeling the effects. Unemployment is at a record 10.2% and wages are flat. The cost of gas is taking a bigger bite out of paychecks, and home foreclosures were one fifth of home sales in September. To help, WalletPop is launching an...

One of the many special provisions included in the bailout bill passed by U.S. lawmakers last week was a "fix" for 2008 for the Alternative Minimum Tax (AMT). This tax dates back to 1970, when a small number of high-income taxpayers were paying little to no tax because of all the deductions they...

If you're one of the millions affected by the Alternative Minimum Tax (AMT) temporary fix approved by the House of Representatives last week, you may have to wait to get your refund.The fix is good for taxpayers, but bad for the Internal Revenue Service. Any form affected by the change won't be...

About 20 million taxpayers were spared from being hit with the Alternative Minimum Tax (AMT), thanks to a bill finally passed by the House of Representatives.The AMT is a provision in the tax law which ensures that taxpayers with "high" income and a lot of deductions pay at least a minimum amount...

As the year-end draws near, lawmakers still can't agree on potential changes to the tax code. The current issue is the Alternative Minimum Tax, AMT for short. The AMT was enacted nearly 40 years ago, and was intended to make sure that high-income taxpayers with lots of deductions still paid a...