The recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” extends partial relief to individual taxpayers from the alternative minimum tax, or AMT. Earlier temporary measures to deal with the unintended creep of the AMT’s reach expired at the end of 2009, meaning that more than 20 million additional taxpayers would have faced paying the tax on their 2010 returns without the new relief. Read more.
If you would like more details about these provisions or any other aspect of the new law, please do not hesitate to contact your Keiter Stephens engagement partner.
Tags: personal tax, tax relief act 2010