Congress is at it again... sitting on their hands as a lot of wealthy* American taxpayers are about to get screwed. This time it's the Alternative Minimum Tax.
*Note: See a tax professional for more details. You may not think you're wealthy, but the US federal government might say you are whether you like it or not.
"To avoid confusion and delays for taxpayers, it is critical that an AMT patch be enacted by early November. If Congress fails to act, we estimate that 25 million taxpayers will be subject to AMT in 2007 - 21 million more than were subject to the tax in 2006."
Translation: Congress better get moving or even more Americans will be cheated by the federal government.
Because cheating is exactly what the government is doing with this tax.
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