2008

Congress waited until the 11th hour last year, passing an AMT patch for just one more year in December 2007. My prediction at the time was that we’ll see one more year of patches and then with a new administration, we’ll probably get a longer range solution for AMT.

Please keep reading for more information on what AMT is, how it affects you and what the Senate is doing this week about fixing the problem for 2008.

October 22nd could be an interesting day in Washington. That’s when House Ways and Means Committee Chairman Charles B. Rangel, D-N.Y., expects to introduce two separate tax bills.