Was there an AMT patch?

[arch01]

I'm not finding much, everything is talking about other things-child care, tuition credits, etc. I know an AMT patch was part of the talks (at least from what I was reading)... it sucks knowing that we don't come close to six figures and we may end up getting hit by AMT.

[Deleted]

there was some talk of a permanent fix for the ATM. I just want a short bullet point list of the key facts but can't seem to find one yet.

[arch01]

Jan 1, 2013 8:35:42 GMT -5 @septimus said:

there was some talk of a permanent fix for the ATM. I just want a short bullet point list of the key facts but can't seem to find one yet.

Me too. I'm guessing that it'll come after the House votes today.

[gogreengowhite]

All I'm seeing is: -- The alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation.

[gogreengowhite]

Bullet points from CNN.com

What the package proposes

Read the bill (pdf)

Under the Senate package:

-- Taxes would stay the same for most Americans. But it will rise for individuals making more than $400,000 and couples making more than $450,000. For them, it will go from the current 35% to the Clinton-era rate of 39.6%.

-- Itemized deductions would be capped for those making $250,000 and for married couples making $300,000.

-- Taxes on inherited estates will go up to 40% from 35%.

-- Unemployment insurance would be extended for a year for 2 million people.

-- The alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation.

-- Child care, tuition and research and development tax credits would be renewed.

-- The "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.

-- Prevents a spike in milk prices. Agriculture Secretary Tom Vilsack said milk prices would have doubled to $7 a gallon because a separate agriculture bill had expired.

[arch01]

Jan 1, 2013 8:38:05 GMT -5 gogreengowhite said:

Bullet points from CNN.com

What the package proposes

Read the bill (pdf)

Under the Senate package:

-- Taxes would stay the same for most Americans. But it will rise for individuals making more than $400,000 and couples making more than $450,000. For them, it will go from the current 35% to the Clinton-era rate of 39.6%.

-- Itemized deductions would be capped for those making $250,000 and for married couples making $300,000.

-- Taxes on inherited estates will go up to 40% from 35%.

-- Unemployment insurance would be extended for a year for 2 million people.

-- The alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation.

-- Child care, tuition and research and development tax credits would be renewed.

-- The "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.

-- Prevents a spike in milk prices. Agriculture Secretary Tom Vilsack said milk prices would have doubled to $7 a gallon because a separate agriculture bill had expired.

Thanks-I hadn't seen this yet!