APRIL 23, 2001

DEPARTMENT: News, Commentary, and Analysis; Viewpoints

CITE: Tax Notes, Apr. 23, 2001, p. 667;
91 Tax Notes 667 (Apr. 23, 2001)

HEADLINE: 91 Tax Notes 667 - AMT: WHY AND HOW TO REFORM. (Section 55 -- Alternative Minimum Tax) (Release Date: APRIL 20, 2001) (Doc 2001-11371 (5 original pages))

AUTHOR: Harmon, Oskar R.
University of Connecticut-Stamford

CODE: (Section 55 -- Alternative Minimum Tax)

ABSTRACT:
The AMT, increasingly recognized by all as an abomination in its current form, should be restructured to restore it to its original intent. Personal exemptions, the standard deduction, and deductible state and local taxes should be eliminated as preference items. And the AMT exemption amount, its phase-out threshold, and rate bracket break should be indexed to inflation.

REFERENCES:
Subject Area:
Alternative minimum tax;
Individual income taxation;
Tax policy issues