So what's the deal with AMT this year?

[Taverner]

Have they finally come with a fix, or will it be at pre-fix levels?

[Pirate Smile]

1. Obama's Tax Compromise included the AMT fix.

OBAMA TAX COMPROMISE APPROVED BY CONGRESS

The $858 billion tax deal negotiated by President Obama and Republican leadership was overwhelmingly approved by the Senate on Wednesday, and passed the House Thursday, December 16, 2010, on a 277 to 148 vote. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the Bill):

• Extends for two years the Bush-era income tax rates, the 15 percent rate on capital gains and dividends, and many credits affecting families and children
• Extends jobless benefits for the long-term unemployed until the end of 2011
• Sets the maximum estate tax rate at 35 percent, with an exclusion of $5 million per person, or $10 million per couple
• Includes an Alternative Minimum Tax (AMT) patch for 2010 and 2011
• Cuts Social Security payroll taxes for employees from 6.2 percent to 4.2 percent for one year
• Provides businesses with 100 percent bonus depreciation for qualified capital expenditures for 2011
• Extends other credits, such as the R&D and new markets tax credits, and includes a variety of energy provisions"

http://mcgladrey.com/Tax-Services/Obama-Tax-Compromise-Approved-by-Congress

[Skink]

2. somebody's gotta pay taxes so the AMT stays.