Each weekday morning the Washington Journal highlights specific taxes, deductions, and budgetary programs that will be impacted if the country goes off the so-called “fiscal cliff.” Tuesday, we look at the Alternative Minimum Tax Patch.
Georgetown Law Graduate Tax Program Professor John Buckley discussed the history of Alternative Minimum Tax (AMT) and the AMT patch. He remarked on the impact a lack of agreement on a patch would have on taxpayers and how this is playing into the ongoing 'fiscal cliff" talks.