Is anyone else worried about the additional 20 million or so people who could get affected by the alternative minimum tax if our friends in Washington don't do anything before then end of the year? The average Joe and Jane could potentially owe $1000 to $4000 additional taxes. The worst part is they will go to H&R Block (we've all made sure our clients are aware of this potential, right?) and instead of getting a big refund to buy that big screen tv, they will owe Uncle Sam big bucks. Talk about a blow to the economy.
The latest article I could find is on the CNN money website
http://money.cnn.com/2007/09/24/pf/taxes/a...oney_topstories
I've written to my representatives as well as Mr. Rangel at ways and means-no response from anyone.
I guess everyone presumes they will act at the 11th hour and all will be well for another year.
I do hope so-it will cost me an additional $1800.
