Alternative Minimum Tax

The Alternative Minimum Tax is an aspect of the United States federal tax code that seeks to capture a minimum level of revenue from all taxpayers and to ensure that some earners are not escaping tax liability through certain tax breaks or deductions. Liability under the AMT is calculated by adding certain deductions back into an individual's adjusted gross income, subtracting the AMT exemption and then, paying a percentage of the remaining figure.

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News & Analysis as of May 23, 2013

Health Care Reform Blog: IRS Proposes Additional Minimum Value Rules

by Susan J. Freed | Davis Brown Law Firm on 5/6/2013

Last Friday the IRS released additional proposed regulations implementing the minimum value requirement for coverage sponsored by employers with 50 or more FTEs. The proposed rules provide that amounts contributed by...more

For Private Equity Investors, Section 1202 May Be Worth Another Look

by Kevin Feeley, Jeffrey Wagner, Thomas Ward, Daniel Zucker | McDermott Will & Emery on 3/22/2013

Included in the American Taxpayer Relief Act of 2012 (ATRA) are provisions that extended some of the more significant benefits of Internal Revenue Code Section 1202, the Code provision that permits eligible noncorporate...more

What's New for Tax Year 2012 (When Filing in 2013)

by Duane Morris LLP on 2/20/2013

The following are select tax topics affecting individuals and businesses for tax year 2012. Individuals - Personal Exemptions: The personal exemption is $3,800 for 2012, an increase of $100. Alternative...more

New Tax Laws Will Affect Most Americans

by Janet Raasch | Lawyers.com on 2/14/2013

At the beginning of 2013, President Obama signed the American Taxpayer Relief Act of 2012, averting the dreaded “fiscal cliff” and making significant changes to U.S. tax law. While the top 1 percent of taxpayers will...more

Understanding the American Taxpayer Relief Act of 2012

by W. King Copler | Chambliss, Bahner & Stophel, P.C. on 2/14/2013

The American Taxpayer Relief Act of 2012 was signed into law on January 2, 2013. The Act permanently extends many of the Bush-era tax cuts, while increasing tax rates for higher income taxpayers. Below is a brief summary of...more

Excluding 100% of Gain From the Sale of Qualified Small Business Stock Acquired in 2013

by William Kastin, Bahar Schippel | Snell & Wilmer L.L.P. on 2/11/2013

If you own a small business, it may be easier to raise money in 2013. This is because, among the favorable tax breaks included under the American Taxpayer Relief Act (the “2012 Act”), there is a temporary extension of the...more

Surprise! Your 2012 Taxes Are Higher Than You Thought

by Michele Bowman | Lawyers.com on 2/4/2013

After the close of another year, income taxes of course come to mind. While it’s clear we have to pay tax on income, there are plenty of provisions in the tax code that require federal taxes to be paid on things you may not...more

2013 Tax Update Letter

by Hopkins & Carley on 1/30/2013

Dear Clients and Colleagues: This letter provides you with a summary of the American Taxpayer Relief Act of 2012 (the “Act”) with respect to the key estate and gift tax provisions, and presents some thoughts on wealth...more

Highlights of the Individual Tax Provisions in the New Taxpayer Relief Act

by Thomas Wechter | Duane Morris LLP on 1/24/2013

Originally published in the AICPA Tax Insider on January 17, 2013. After months of senseless haggling, the Senate early in the morning of Jan. 1, 2013, by a vote of 89–8, and the House of Representatives late in the...more

Congress Approves The American Taxpayer Relief Act Of 2012, Preventing "Fiscal Cliff"

by Christopher Abrams, Alicia Kirkpatrick, D. Scott Lindstrom, William J. Sanders, David N. Zimmerman | Polsinelli on 1/22/2013

After much contention,Congress passed the American Taxpayer Relief Act of 2012, and President Obama signed the legislation on January 2, 2013. The Act avoids automatic sunset provisions that were scheduled to take effect...more

The Fiscal Cliff Deal - What does it mean for you and your business?

by Butler, Snow, O'Mara, Stevens and Cannada,... on 1/18/2013

In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more

Recent Changes Allow Tax-Free Receipt of up to $10 Million in Gain from the Sale of Small Business Stock

by Maureen Linch, Bernie Pistillo, David Strong | Morrison & Foerster LLP on 1/18/2013

One silver lining to the American Taxpayer Relief Act of 2012 (“ATRA”) is that it extended the 100% exclusion for capital gain on qualified small business stock (“QSBS”) acquired between 2010 and 2011 to include stock...more

Rates of Change: The Effect of the American Taxpayer Relief Act of 2012 on Individual and Fiduciary Income Taxes

by Ropes & Gray LLP on 1/18/2013

For all the public discussion in 2012 of the need for a significant reformation and restructuring of the Internal Revenue Code, the income tax provisions of the American Taxpayer Relief Act of 2012 (the 2012 Act) are at their...more

Estate Planning After the Fiscal Cliff Deal

by Katten Muchin Rosenman LLP on 1/17/2013

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

Congress Extends the 100% Tax Exemption for Gain on Certain Qualified Small Business Stock, With Retroactive Effect, Through 2013

by Christopher Cawley, Nicola Lemay | Foley Hoag LLP on 1/16/2013

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”). Among its provisions, the Act extends a tax benefit whereby capital gains from the sale or exchange of certain...more

2013 Brings Estate, Gift & GST Tax “Permanency” At Last

by Schnader Harrison Segal & Lewis LLP on 1/16/2013

The uncertainty of the last two years was put to rest on January 2, 2013 when President Obama signed into law the “American Taxpayer Relief Act of 2012” (ATRA). The new law saved us from the “Fiscal Cliff” and forestalled...more

How Will the American Taxpayer Relief Act of 2012 Affect You - Details of Legislation passed by Congress to Avoid Fiscal Cliff

by Robert Howell, Westray Veasey | Poyner Spruill LLP on 1/15/2013

On January 2, President Barack Obama signed into law the American Taxpayer Relief Act of 2012, H.R. 8 (ATRA), preserving many of the key tax provisions passed during the George W. Bush presidency, which were scheduled to...more

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Alternative Minimum Tax

Health Care Reform Blog: IRS Proposes Additional Minimum Value Rules

For Private Equity Investors, Section 1202 May Be Worth Another Look

What's New for Tax Year 2012 (When Filing in 2013)

New Tax Laws Will Affect Most Americans

Understanding the American Taxpayer Relief Act of 2012

Excluding 100% of Gain From the Sale of Qualified Small Business Stock Acquired in 2013

Surprise! Your 2012 Taxes Are Higher Than You Thought

2013 Tax Update Letter

Highlights of the Individual Tax Provisions in the New Taxpayer Relief Act

Congress Approves The American Taxpayer Relief Act Of 2012, Preventing "Fiscal Cliff"

The Fiscal Cliff Deal - What does it mean for you and your business?

Recent Changes Allow Tax-Free Receipt of up to $10 Million in Gain from the Sale of Small Business Stock

Rates of Change: The Effect of the American Taxpayer Relief Act of 2012 on Individual and Fiduciary Income Taxes

Estate Planning After the Fiscal Cliff Deal

Congress Extends the 100% Tax Exemption for Gain on Certain Qualified Small Business Stock, With Retroactive Effect, Through 2013

2013 Brings Estate, Gift & GST Tax “Permanency” At Last

How Will the American Taxpayer Relief Act of 2012 Affect You - Details of Legislation passed by Congress to Avoid Fiscal Cliff

McNees Insights - Asset Planning and Federal Taxation - Winter 2013

Congress Extends 100% Gain Exclusion for Small Business Stock

American Taxpayer Relief Act of 2012: Tax Implications for U.S. Taxpayers Living Abroad

The American Taxpayer Relief Act of 2012 and What It Means to You

Washington Insight - Special Edition: Congress Steps Away From Fiscal Cliff

American Taxpayer Relief Act of 2012 Approved by Congress and Signed by the President

The American Taxpayer Relief Act of 2012: Some Tax Certainty in an Uncertain World

Fiscal Cliff II: What’s Next For Tax Reform?

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