Details of the tax compromise

No one knows yet what the tax landscape for 2011 will look like.  That won’t become definite until a bill is signed into law.  And although the climate in Washington is getting dicey, with House Democrats resolving not to let the compromise come to the floor as it currently stands, at the moment, here’s what…

Congress To Raise AMT Exemption

It’s an announcement tax planners are relieved to hear.  In a letter to the IRS Commissioner on November, a bipartisan group of Congressmen and Senators affirmed their commitment to passing Alternative Minimum Tax (AMT) relief.  The move could save the average tax payer more than $10,000 in taxes in 2010. The AMT is a sort…