Subject: AMT Tax on Stock Options Comment: Few people--outside of the tax profession--believe my story. They say, it's too unfair to be true, but unfortunately, it is true. While working for a fast-growing company, I was awarded ISO stock options. I purchased the options, and therefore owned the stock. After the stock-crash of 2001, I was assessed an AMT tax by the IRS for $400,000 on stock options that were only worth $150,000. Does that make sense? In the upside down world of AMT (and the Congress that passed it), apparently it does. I had to sell everything to pay tax on profits I never made. It's absolutely stunning to me that the Judiciary (let alone Congress) hasn't made this problem right. It's only due to the fact that AMT (Alternative Minimum Tax) is effecting more people that those in power are taking notice. Please don't forget people like me that have been seriously wronged by this law, and by extention, our Congress and Government. It's a crime. I deserve that money back. I hope this group has the moral courage to resolve this issue and right the wrongs of the past. Best, -Ed Terpening Redwood City, California |