The tax act Congress passed early on New Year’s Day permanently patched the alternative minimum tax (AMT), sparing tens of millions of Americans from the additional levy. But it won’t protect everyone. The AMT will continue to raise the taxes of a few million taxpayers each year, often in seemingly
In the alphabet soup of Washington, ATRA fixed the AMT , sort of. In English, the newly enacted American Taxpayer Relief Act of 2012 will permanently protect millions of taxpayers from having to pay the alternative minimum tax without Congress having to approve a temporary patch every year or so.