Posted: Jul 25, 2005 By: Mohammad Faruque

Subject: AMT Taxes

Comment: When AMT was imposed for ISO stock exercise, the proponents may have overlooked the financial devastation it might cause for the taxpayers like myself. In upward market, it worked fine. But when the stock market took a nose dive, we were stuck with huge amount of AMT (which we could not pay even if we sold all the stocks that we exercised). We have paid so much taxes in advance, and we will not get that amount refunded unless a special provision is made in the current tax code. I am all for paying taxes on any profit we make, but paying taxes on paper profit is unfair and caused untold miseries for me and thousands of other AMT payers.
Please make sweeping reforms to address this injustice and retun our life back. We will be ever grateful.