Washington -- In an effort to address the problem of the controversial alternative minimum tax, New York Democratic lawmakers Reps. Nita Lowey and Steve Israel enlisted Herb Schoenfeld and Alan D. Feldstein -- both former presidents of the National Conference of CPA Practitioners -- to help launch AMT legislation.
Schoenfeld and Feldstein worked with both Israel and Lowey and their respective AMT committees -- comprised of individuals in the accounting and business fields.
"We think the best solution would be a total repeal of the AMT to reduce the complexities associated with the calculations and allow all taxpayers to have their taxes calculated fairly and on an even playing field. However, the Israel/Lowey bill is at least a starting point," said Schoenfeld.
The co-effort with NCCPAP included joint press conferences in Woodbury and White Plains, N.Y., held earlier this month.
NCCPAP said representatives will travel to Washington in May to meet with other members of Congress on the AMT.
