Because some taxpayers, particularly wealthy taxpayers, have been so successful in their efforts to legally minimize their tax bills, Congress came up with another way to tax them: the Alternative Minimum Tax AMT. The AMT provides a formula for computing tax that ignores certain preferential tax treatments and deductions that...
The Federal Circuit recently held that an employer's wage deduction has to be reduced by the taxpayer's jobs credit in computing Alternative Minimum Tax AMT, even though the jobs credit is not allowed for AMT purposes. V owns and leases hospitals, nursing centers and personal care facilities. For the tax...
This paper examines the impact of the Alternative Minimum Tax on the weighted average marginal tax rates that apply to various components of taxable income. It also considers the impact of several AMT reform proposals on the number of AMT taxpayers, the total revenue collected from the AMT, and the...
The article focuses on stock options and the Alternative Minimum Tax AMT. It says that some employees who exercised stock options have found that they have to pay the AMT even though the stock price for the shares they bought have fallen. To understand the concept for...
Too many taxpayers are paying too little tax. That's what the alternative minimum tax AMT was designed to prevent. Enacted to make sure wealthier individuals paid their fair share in tax to the IRS no matter how many deductions, the AMT has accomplished that -- and unfortunately, maybe more. The...
PITTSBURGH, July 11 /PRNewswire-FirstCall/ -- Federated Premier Municipal Income Fund and Federated Premier Intermediate Municipal Income Fund have declared their monthly dividends. The funds seek to provide investors with current dividend income that is exempt from regular federal income tax. In addition, these funds feature income exempt...
Proponents of the FairTax say it's the most equitable way to tax people, based on the new goods and services they consume. And they say the way to do that is with a 23 percent national sales tax on those goods and services. They say the revenue...
NEW YORK -- Fitch Ratings assigns an 'A+' to the Louisville Regional Airports Authority, Kentucky's the authority, approximately $37 million airport revenue bonds 2008 series A subject to the federal alternative minimum tax, scheduled for sale July 9th. Fitch also affirms its 'A+' rating for the authority's $382 million of...
WASHINGTON AP -- The House voted Wednesday to protect more than 20 million mostly upper-income taxpayers in danger of being slapped with a tax increase averaging $2,300 because of the alternative minimum tax. To help offset the cost, the bill more than doubles the 15 percent tax...
ALTA Joins Industry Effort to Caution Congress WASHINGTON -- In a joint letter today to Congress, the American Land Title Association ALTA joined with 16 other real estate industry groups urging Congress not to raise taxes on real estate partnerships, saying it would further damage an already shaky...
PITTSBURGH, June 13 /PRNewswire-FirstCall/ -- Federated Premier Municipal Income Fund and Federated Premier Intermediate Municipal Income Fund have declared their monthly dividends. The funds seek to provide investors with current dividend income that is exempt from regular federal income tax. In addition, these funds feature...
Death is inevitable, but federal income taxes aren't for an increased number of high-income earners. New IRS statistics show 7,389 federal tax returns with $200,000 or more in adjusted gross income reported no federal income taxes in 2005. That's a 161% jump from the 2,833 comparable returns filed...
BOSTON -- MFS Investment Management([R]) (MFS([R])) announced updated portfolio information for MFS Municipal Income Trust (NYSE: MFM). Below is listed the percent of securities which are callable per year, the ten states to which the fund has its largest exposures, its average coupon and Alternative Minimum Tax AMT exposure. %...
Monday, Aug. 4 Practical Financial Accounting and Auditing Update Fundamentals of 1031 Exchanges Business Taxation: A Potpourri of Tax Tools Audit Standards Update: The New Audit Risk Assessment Standards Tuesday, Aug. 5 Form 709: Gift Tax Returns and...
The "mother of all tax bills," Tax Reduction and Reform Act of 2007, H.R. 3970, is likely to find its way to the next president's desk and is anticipated to be effective in 2009. The bill was introduced by Charles B. Rangel, D-NY, Chairman of the House Ways and Means...
CHICAGO -- Fitch Ratings assigns an 'A' rating to Miami-Dade County, Florida's the county approximately $600 million aviation revenue bonds series 2008 A (subject to the federal alternative minimum tax [AMT]) and B (non-AMT). The bonds are secured by net revenues of the county's Port Authority Properties PAP, the main...
Provision in Renewable Energy and Job Creation Act of 2008 Comprehensively and Fairly Resolves Eight Year Crisis Caused by AMT Tax Imposed on Phantom Income WASHINGTON -- The Coalition for Tax Fairness CTF, an organization working to address the Incentive Stock Option Alternative Minimum Tax ISO AMT crisis,...
NEW YORK -- The Boards of the three Neuberger Berman Closed-End Intermediate Municipal Funds have declared their monthly distributions for June, July and August 2008. The Funds seek to provide income that is exempt from regular federal income tax. Additionally, the California Intermediate Municipal Fund seeks to provide income that...
PITTSBURGH, May 13 /PRNewswire-FirstCall/ -- Federated Premier Municipal Income Fund and Federated Premier Intermediate Municipal Income Fund have declared their monthly dividends. The funds seek to provide investors with current dividend income that is exempt from regular federal income tax. In addition, these funds feature income exempt...
NEW YORK -- American Independence Corp. (NASDAQ: AMIC) today reported 2008 first-quarter results. Financial Results Revenues increased to $28.4 million for the three months ended March 31, 2008, compared to revenues of $28.1 million for the three months ended March 31, 2007. Net income decreased to...
