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Friday, August 29, 2008

IRS Agrees to Suspend AMT on Exercise of ISOs Through Sept. 30

Senate Finance Committee Ranking Member Charles Grassley today announced that he has secured a commitment from the IRS to suspend for one month the collection of the AMT (including interest and penalties) arising out of employees’ exercise of incentive stock options. The suspension gives Congress time to enact legislation that would ease these burdens on affected taxpayers.

http://taxprof.typepad.com/taxprof_blog/2008/08/senate-secures.html

Congressional News, IRS News | Permalink

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» ISOS: THE TAXMAN TAKES A HOLIDAY from Roth & Company, P.C.
The TaxProf tells us that ISO-AMT victims will have a new reason to enjoy the long weekend: Senate Finance Committee... [Read More]

Tracked on Aug 29, 2008 12:04:13 PM

» IRS Suspends ISO AMT Through September 30th from Taxable Talk
The IRS announced last week that they would suspend collection of the Alternative Minimum Tax (AMT) on incentive stock options (ISOs) through September 30th. [Read More]

Tracked on Sep 1, 2008 6:16:40 PM

Comments

Congress seems to be tripping over itself to provide relief to people who held onto ISO stock that then decreased in value. The trouble is that the relief is not limited to those cases. Drafting legislation that accurately targets relief will be quite difficult.

Posted by: AMTbuff | Aug 29, 2008 11:47:20 AM