Press Contact:
Carol Guthrie (Baucus) 224-6769
Jill Gerber (Grassley) 224-4515
Matthew Beck (Rangel) 225-8933
Michael Steel (McCrery) 226-4774
Tax Writers Notify IRS of Upcoming AMT Fix
Washington, DC – Leaders of the congressional tax writing committees notified the Internal Revenue Service (IRS) today of imminent changes to the alternative minimum tax, and encouraged the agency to plan now to produce accurate tax forms for the 2007 filing season. Senate Finance Committee Chairman Max Baucus (D-Mont.), House Ways and Means Chairman Charles Rangel (D-N.Y.), Finance Ranking Republican Chuck Grassley (R-Iowa), and Ways and Means Ranking Republican Member Jim McCrery (R-La.) sent a letter to Acting IRS Commissioner Linda Stiff, indicating their intention to complete legislation preventing the AMT from affecting any additional American taxpayers for 2007. The AMT was originally meant to ensure that wealthy Americans paid some income tax, but without indexing for inflation it has begun to affect middle-income American taxpayers.
###
Next Article Previous Article
Recent News
- Wyden Statement on Supreme Court Ruling to Restrict Emergency Room Care for Women
- Wyden Statement on HHS Watchdog Report on Lack of Oversight at Youth Residential Treatment Facilities
- Wyden Calls for Action to Stop PBM Middlemen from Flagrantly Flouting Medicare Rules that Protect Pharmacies
- Wyden Statement on Final Rules Promoting Good-Paying Clean Energy Jobs in America
- Wyden Statement at Finance Committee Hearing on Work and Social Security