We need an AMT patch passed right now.
there is no reason not to do that.
I spoke with CPA and EA gnomes and they are freaking out...
* AICPA I think denoted everyone's taxes will go up $3,500 per family.
* The lead time for new legislation is not enough for them to go to seminars, learn the new code, and or change the Tax Planning Software.
* They can't give multi year advice, (special situations).
* The EA see's they only solution as extending the tax season into May.
* And as you mentioned, AMT. It is not fixed for 2011, let alone 2012, people snagged may go from 4 million to 23 million. Again, the CPA is freaking out and asked even that I come in to make sure I am not in AMT land for 2011...
We are so FUBAR'd, people have no idea what they voted for again....