Subject: ReformAMT proposal Comment: I fully support the ReformAMT and CTF proposals for reforming AMT, with specific emphasis on returning AMT tax credits owed to taxpayers as soon as possible. I can also attest to the fact that the IRS will sit on Amended Tax returns with big AMT refunds for years with no action, while persuing lesser amounts owed for other years by the same taxpayer with penalties, interest, and threats of leins. Like many other taxpayers in my situation, I am likely headed to tax court to fight out the situation and the lawyers will probably be the only winners. A simple and fair legislative solution that brings the ISO and AMT treatment back inline with the intentions of Congress is required, as we can be fairly certian it was not Congress intention to inflict such severe hardship on so many American families. |