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Will Congress ‘patch’ the AMT again?

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in Small Business Tax

Congress has “patched” the alternative minimum tax (AMT) each year for the past four years by bumping up the exemption amounts.

The likelihood is that another patch is in store for 2010, but it has not happened yet.

Below are the recent exemption amounts and the lower scheduled amounts for 2010 unless Congress takes action.

Filing status






Joint filers






Single filers






Tip: The exemption amounts phase out by 25 cents for each dollar of AMT income above $150,000 ($112,500 for single filers). The phaseout thresholds have not been patched in recent years.

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