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Wednesday, January 28, 2009

Senate Finance Committee Approves Stimulus Bill With One-Year AMT Patch

The Senate Finance Committee yesterday approved the economic stimulus legislation (S. 1) 14-9 after adding a one-year AMT patch costing $70 billion, bringing the tax portion of the bill to $342 billion.   The patch would increase the exemptions from $46,200 to $46,700 for individuals and from $69,950 to $70,950 for couples.

http://taxprof.typepad.com/taxprof_blog/2009/01/senate-finance-committee.html

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Comments

Will the AMT patch apply to 2008 taxes due 4/15/09 or to 2009 taxes due 4/15/10

Posted by: Larry Krasner | Feb 16, 2009 9:07:21 AM