Episode 467 • • 2:03:42 - 2:10:59
467: Red Washcloth
Alternative Minimum Tax, The 2012 Tax Patch Crisis
A detailed explanation of the Alternative Minimum Tax (AMT) reveals a looming crisis for 30 million Americans. Without a congressional "patch" for the 2012 tax year, the AMT will trigger significantly higher tax rates for those earning around $70,000. The hosts highlight that this issue affects the current tax year and will be felt by taxpayers in early 2013.