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Strategies & Market Trends : ahhaha's ahs
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To: Mark Adams who wrote (3329)10/31/2001 2:28:42 PM
From: GraceZRead Replies (1) of 24758
 
I gave up trying to untangle the AMT forms

Yes, I suspect that the recent reforms of the tax code were really a full employment act for CPAs and other tax professionals. Even they can't work their way through the quagmire sometimes. I remember a client who asked me to help her figure out what she had done wrong in figuring out the penalty section for her estimated tax payments. She had gotten a deficiency notice from the IRS. I brought along my return so we could compare how my accountant had figured mine against what she had done on her own. She had a one or two page form and I think mine had six or seven pages devoted to figuring whether or not I'd paid the estimated pmts. on time. As I kept pulling up pages saying, "And do you have this one, and this one..." We got hysterical laughing. All of course came with that wonderful little paperwork reduction act imprinted somewhere on them.

The tax code is a mess, it needs to be scraped and start from zero. What are the chances of that happening, zero.

You want me to give you a reason why a retroactive repeal of the AMT on corporate returns is justified, yet you can't give me a good reason why AMT was ever justified in the first place. I think if you were sitting in jail for a crime and then the law covering that offense is later found to be unconstitutional would you feel it was justified for them to apply the change retroactively to your case?
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