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Topic History of: Alternative Minimum Tax - Filing Delay
Max. showing the last posts - (Last post first)
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steve AMT is a federal tax that is in addition to the federal income tax. AMT is calculated separately from your federal income tax. AMT essentially eliminates many deductions and credits. Taxpayers maybe liable for AMT if their taxable income is more than the AMT exemption amount. The exemption amount is adjusted for inflation annually. See IRS Form 6251 for more details.

The AMT was originally enacted to make sure that high income taxpayers paid their fair share of taxes. It's often said that the AMT really makes the federal income tax more of a "flat tax" because it wipes aways many tax deductions.
et non whats the change in the AMT? no posts on that
steve Filing an early tax return without one of the five newly affected AMT forms may cause a problem for you. You can alway amend your original tax return using the new forms. The problem is that your tax refund, if applicable, will take a longer time to process and be sent to you.

In addition, the IRS usually requests that amended return be submitted after April 15th so that they can properly process your original return. So, expect some additional burden in calling the IRS, time loss, and additional tax preparation fees.

However, forgeting to file an amended return may cause you to mis-out on a tax credit, which you may be entitled to.
abr41 what if i filed my return already and didnt use the new forms?
steve Feb 11th is the target date for the IRS to start receiving tax returns with the updated AMT forms. The IRS needs to update and test its computer systems to accomodate the form changes.
Tomas P. AMT forms wont be ready until Feb 11th
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