As Washington struggles to fix the alternative minimum tax to prevent it from spreading to an estimated 23 million taxpayers, consumer tax prep software vendor 2nd Story Software is offering a peek at how the AMT would affect tax returns prepared under either scenario with its TaxAct software.
The company's TaxAct Preview allows taxpayers to see what their refund amount would be if a proposed temporary fix to the AMT passes, and if it doesn't. Taxpayers can go to the www.taxact.com site to prepare their returns, and it takes into account the variations in the 12 forms affected by the AMT.
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