A bill to amend the Internal Revenue Code of 1986 to increase the alternative minimum tax credit amount for individuals with long-term unused credits for prior year minimum tax liability, and for other purposes.

Summary

Amends the Internal Revenue Code to: (1) increase the alternative minimum tax (AMT) refundable credit amount for individuals who have long-term unused minimum tax credits from prior taxable years; and (2) abate any underpayment of tax attributable to the application of special AMT rules for the treatment of incentive stock options.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 November 2007

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 November 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 16 November 2007

  Open at official source

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