Alternative Minimum Tax Should End, IRS Advocate Says

Law360, New York (January 10, 2014, 2:23 PM EST) -- The National Taxpayer Advocate Nina Olson urged Congress on Thursday to repeal the 32-year-old alternative minimum tax, saying the taxing regime is no longer achieving its original purpose of preventing the nation's highest earners from skirting U.S. taxes.

Olson's recommendation to end the 32-year-old AMT is part of her 2013 annual report on the Internal Revenue Service. The AMT's elimination of tax benefits of having children or getting married has the unintended effect of increasing marginal tax rates on middle class families who qualify for it,...
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