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by bradleyjg
3153 days ago
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Provision: Under the provision, the AMT would be repealed. If a taxpayer has AMT credit carryforwards, the taxpayer would be able to claim a refund of 50 percent of the remaining credits (to the extent the credits exceed regular tax for the year) in tax years beginning in 2019, 2020, and 2021. Taxpayers would be able to claim a refund of all remaining credits in the tax year beginning in 2022. The provision would generally be effective for tax years beginning after 2017. From http://3hm75d2ak36959oew3zvzim1.wpengine.netdna-cdn.com/wp-c... Page 26 Keep in mind that it is highly unlikely the proposed bill will make it through unchanged. It hasn't even passed the House and the Senate still needs to weigh in. |
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