AMT - Alternative Minimum Tax

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Tax Day Freebies - April 15

posted: 237 DAYS 19 HOURS AGO

filed under: Taxes, Tax Advice, AMT, Tax Basics, Tax Credit, Tax Deduction

Get all the info you need to get some free stuff today! Don't miss out!

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Ever have sticker shock over the bottom line of your tax return and start to think about some "creative accounting," looking for deductions wherever you can find them? Before you get into trouble, test how well you know what is and isn't deductible.

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10 Things the IRS Won't Tell You

posted: 258 DAYS 17 HOURS AGO

Tax preparation is more complicated this year than even, especially for people who have had drastic shifts in their financial situation, and that's all the more true because the IRS is keeping some secrets from you.

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Plan Ahead for Your 2010 Taxes

posted: 270 DAYS 14 HOURS AGO

filed under: Taxes, Tax Advice, AMT, Audit, Tax Basics, Tax Credit, Tax Deduction

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Tax Day for your 2008 return is just around the corner, but it's not to early to start thinking about all the new credits you'll be getting on your upcoming filings thanks to the stimulus bill. Here's your guide to planning ahead for 2010!

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What Will the IRS Do to You?

posted: 273 DAYS 12 HOURS AGO

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What happens when you cheat on your taxes? For one thing, you could lose your nomination for a cabinet position in the Obama administration. You could end up in jail like Wesley Snipes, or you could end up with a big fine. You may think these kinds of penalties only happen to the famous tax cheats, but regular folks get in hot water too.

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The Stimulus And Your Tax Bill

posted: 284 DAYS 15 HOURS AGO

Our partners at SmartMoney continue to break down the stimulus plan and what it means to your tax bill. Today's installment contains all you need to know about homebuyer credits, the AMT, education credits and unemployment payments.

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Alternative Minimum Tax

posted: 321 DAYS 15 HOURS AGO

filed under: Tax Basics, Tax Advice, AMT

The Alternative Minimum Tax (AMT) was passed in 1969 to ensure that upper-income taxpayers paid at least some income taxes. Up to that point, taxpayers skilled at finding enough in itemized deductions, income exclusions and tax credits would sometimes manage to avoid paying any income taxes.

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The AMT: No Smooth Start to Tax Season

posted: 487 DAYS 16 HOURS AGO

filed under: AMT

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 minimum level of income taxes.

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AMT Smack-Down Held Off 'Til Next Year

posted: 487 DAYS 16 HOURS AGO

filed under: AMT

About 20 million taxpayers were spared from being hit with the Alternative Minimum Tax (AMT) recently, thanks to a bill finally passed by the House of Representatives.

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