Posted: May 07, 2005 By: Nina Doherty

Subject: Tax Fairness: inappropriate tax rate due to AMT/ISO issue

Comment: Per my testimony on June 15th to the Committee on Oversight, for House Ways and Means: every day, people like me are required by law to pre-pay taxes that are based on phantom income (per AMT rules). Every day that the AMT treatment of ISOs is not addressed is another day that blindsides an otherwise compliant tax payer with their worst nightmare: owing taxes on a gain that never materialized and that represents 100% or more of their total annual income. The only viable resolution will be a change in the code.

Thanks in advance for your consideration,
Nina Doherty