AMT 101: Because Every Middle Class Citizen Should Know

Here is a very nicely explained article on the Alternative Minimum Tax, a potential tax crisis that's affecting millions more each year. Congress is currently working to fix this potential nightmare with a "one year patch" which as of two days ago, still needs to make it through the Senate. The main discrepancy exists over where the offset in revenue will take place. The current bill proposes sharp increases in tax fees for management of private equity fund portfolios. In my opinion, a revenue "off-set" is not what we really need, but rather a revenue reduction across the board. The current plan is better than nothing, however...