For tax year 2006, the alternative minimum tax (the dreaded AMT) exemption rises to $62,500 for a married couple filing a joint return and to $42,500 for single persons and heads of household. Don’t get too excited, though, as those amounts are slated to drop in 2007.
- IRS Announces 2013 Tax Rates, Standard Deduction Amounts and More
- The Waiting Game and AMT
- Hey Congress, Why Don’t You…? Fix the AMT
- 11 Changes You Must Know Before Filing Your Tax Return for 2012
- Congress Promises AMT “Relief “