Here are our efforts and the events that occurred upon our Phase 2 kickoff (early 2007) until our final victory in October 2008.
October 4, 2008 - To our Champions in Congress, ReformAMT would like to express our deep gratitude and appreciation for all that you have done for us. Your efforts have saved many families, their homes and their childrens' future.
October 3, 3:15pm (EST)
FINALLY, IT'S OVER!!!
Breaking News - The President has signed the Financial Bill with our Provision. It's law now!!!
ReformAMT would like to thank all who contributed to the effort these past 8 years. It has been a long and arduous journey. Stay tuned for more celebration and updates.
With your efforts, WE WON!!!!!
October 3, 1:30pm (EST)
ON TO THE WHITE HOUSE!!!
Breaking News - The House just passed the Financial Bill!!! The bill is on its way to the President for signature!!!
Stay Tuned ...
October 2 11:42pm (EST) - UPDATE
Our champions in DC have indicated that the vote count is "razor thin" and EVERY VOTE is critically important. Passage of the bill is not certain. PLEASE RESPOND TO THE CALL TO ACTION!!!
October 1, 2008 - UPDATE and CALL TO ACTION
The Senate has passed a huge bill (Financial Bill H.R. 1424 with Senate amendments) that includes Emergency Economic Stabilization, Energy Improvement and Extension, Tax Extenders, AMT Tax Relief (AMT Patch), and Disaster Relief.
Our provision is IN!
This could be the last vehicle for us this year. The stakes could not be higher - many are losing their homes since the IRS's stay of execution expired last night. Let's get this done once and for all.
THIS IS URGENT - WE NEED TO CONCENTRATE ON THE HOUSE.
CLICK HERE FOR MORE DETAILS AND CALL TO ACTION INSTRUCTIONS
UPDATED September 25, 2008
September 18, 2008 - UPDATE and CALL TO ACTION
September 26, 2008 - See Senator Grassley on the Senate Floor talk about OUR PROVISION today (WARNING - LARGE DOWNLOAD 22MB)
GREAT NEWS BUT NOT DONE YET, one more step closer!!!
Yesterday, the House passed H.R. 7005 (the AMT patch) that included our provision. However, technically, this is a different bill than what was passed in the Senate on Tuesday.
WE NEED YOUR HELP!
WE ARE ALMOST DONE DONE DONE!
PLEASE RESPOND TO THE CALL TO ACTION BELOW!
CLICK HERE FOR MORE DETAILS AND CALL TO ACTION INSTRUCTIONS
August 29, 2008 - UPDATE - IRS to suspend collections for the next month!
Our champions in Congress have secured an agreement from the IRS Commissioner to suspend collection activities on ISO AMT liability through the end of the fiscal year (end of fiscal year is Sept 30, 2008).
July 24, 2008 - UPDATE and CALL TO ACTION!
Senate Finance Leadership is going to bring up the Tax Extenders/AMT package this week (S. 3335 is the Senate version, H.R. 6049 is the House version)! YOU NEED TO CONTACT YOUR SENATOR NOW! EMAILED LETTERS ARE NOT ENOUGH -
July 15, 2008 - We made it into the Senate Republican's Tax Extenders!
The Senate Republicans offered their version of Tax Extenders as the Democrats and the Republicans continue to work on a compromise. This is a GREAT development - now we are in both the Democrat House version and the Republican Senate version! Let's hope that a compromise can be reached between the two parties. Click here to see the Republican Tax Extenders - we are Section 103. Stay tuned ...
July 9, 2008 - Life Line for ISO-AMT victims being pursued by the IRS
We have been working hard with our Congressional Champions over the last couple of months to get the IRS to stand down on collections activities until our bill has passed into law. Last week, a letter initiated by Senators Grassley and Kerry and Reps Van Hollen and Johnson went out to IRS Commisioner Shulman with 27 signatures (4 Senators and 23 Representatives). The letter demonstrates our Congressional Champions' commitment to getting this legislation done this year - it requests the IRS to suspend collections activites while Congress acts to fix this situation (Click here for the signed letter). For those of you battling the IRS, hopefully this will help your cause.
Also, National Taxpayer's Advocate Nina Olson's annual report came out yesterday and had a strong section on ISO-AMT urging Congress to fix the issue promptly and urging the IRS to come up with reasonable approaches to taxpayers hit (Click here for the report - go to page 31).
On the legislation side, the House and Senate are back from the July 4th break and will be taking up multiple issues, including Tax Extenders and AMT Patch. Stay tuned for updates...
June 20, 2008 - the Senate did not pass the Tax Extenders bill this week (Click to see vote of 52-44 and a good explanation of the Senate rules are on the discussion boards - scroll to end of thread). The primary reason was the debate over "pay-fors". The Democrats want to pay for the tax relief by making some hedge fund managers and multinational corporations pay more taxes. Republicans argue that tax relief should not be matched by any tax increases.
Further, it is unclear how the AMT patch for this year will fit into tax legislation moving through Congress. Senate Majority Leader Harry Reid (D-NV) intends to bring Tax Extenders bill back to the Senate Floor after the July 4th break.
Given the highly political environment during an election year, it is a complex task keeping our provision in whatever tax vehicle that moves through Congress. Your efforts have been and will continue to be very important in maintaining the mind share of our Senators and Representatives as they decide on the trade offs of tax legislation.
Stay tuned for more updates!
June 16, 2008 - the Senate Tax Extender's vote has been postponed until tomorrow due to weather issues on the East Coast
June 13, 2008 - UPDATE and CALL TO ACTION!
The Senate is going to vote on the Tax Extender's package on MONDAY, June 16th. This is the vehicle we have been waiting for. YOU NEED TO CONTACT YOUR SENATOR NOW! EMAILED LETTERS ARE NOT ENOUGH -
- The message is simple, "Please support S 2389 ISO-AMT in the upcoming Tax Extenders Package and/or AMT Patch".
- PHONE CALL (only takes 2 minutes). Ask to speak with the Tax Policy Advisor or the Tax Legislative Assistant. If you have an established relationship with others in the Senator's office, ask to speak to that/those person(s). If you can't speak to your contact live, be sure to leave a voice mail message.
- Email your Senator (only takes 30 seconds)
- Follow up with a FAX
- Tap your network - family, friends, peers, support groups - point them to this Call to Action!.
- As always, keep us informed of your efforts by emailing firstname.lastname@example.org
June 6, 2008 - Notable quotes from House passage of the Renewable Energy and Job Creation Act of 2008
May 21, 2008 - UPDATE - ISO-AMT Relief passed the House today!
The House passed the Renewable Energy and Job Creation Act of 2008, which includes the AMT Credit Fairness and Relief Act HR 3861, today on a vote of 263 to 160. The bill moves on to the Senate.
Stay tuned for more updates!
May 19, 2008 - UPDATE
We have made significant progress in securing support in both the House and Senate. Here are the 2 major developments :
From there, we understand that Senate Finance Chair Max Baucus (D-MT) is hoping to take up the Senate version of the Energy and Extenders Bill the first week in June after the Memorial Day Break.
- Senator Richard Durbin (D-IL) is now co-sponsoring S 2389. THIS IS HUGE! Senator Durbin is Senate Majority WHIP, the 2nd highest ranking Democrat in the Senate! His support is a BIG step for us!
- We worked our way into the Energy and House Tax Extenders Package of 2008 (HR 6049)! The bill passed out of the Ways and Means Committee (on a vote of 25 to 12). It should hit the House floor for vote this Wednesday. Check www.cspan.org for the schedule and to view. Click here to see the bill. We are Section 303, page 154
Stay tuned for more updates!
February 13, 2008 - Update!
Great News! Senator Grassley, ranking member of Senate Finance Committee, cosponsors S 2389!
This is HUGE! We have been working to get Senator Grassley's cosponsorship on our provision for years! And for Senator Grassley to be our first Republican Senate cosponsor is a big win for the effort. Stay tuned for more news...
Please continue to focus on the Senate!
January 31, 2008 - Call to Action!
With upcoming legislation in Congress, we need to focus on the Senate! PLEASE ACT NOW!
December 19, 2007 - Update
Battle continues in 3 weeks!
The House has passed the Senate version of the AMT patch (bare bones without any provisions), so we will need to extend the fight into next year. We have alot to look forward to in a month or so, and we have alot to be proud of.
Don't do anything rash! We have not lost! In fact, we have never been closer to finally ending this nightmare. Stay tuned for more updates...
- Our champions in the House and Senate reiterated that they remain committed to getting our provision passed passed as quickly as possible
- Due to your efforts, our visibility in Congress has not been higher. So far, there has not been objections to our issue. Rather, we ran out of time this year.
- Both our House and Senate bills remain intact
- Please see your member email update for more details. (not a member? click here to become one)
December 14 through 20, 2007 - CRITICAL!
CALLING EVERYONE IN SAN FRANCISCO!
CONTACT THE SPEAKER OF THE HOUSE!!!
December 11, 2007 - HOT OFF THE PRESS!
Our provision made it into the new House AMT Patch (HR 4351). The AMT Patch could be decided upon THIS WEEK! We need to focus our efforts on the Senate.
CONTACT YOUR SENATOR!!!
If you have already emailed your Senator, be sure to FAX a follow-up letter asking for support. You can get your Senator's contact info here.
December 1, 2007 - CONTACT YOUR SENATOR!!! New tool! Fun for your whole family and all your friends - Now it's so simple and easy.
November 22, 2007 - UPDATED CALL TO ACTION!!! Our time is NOW.
Senate has introduced peer legislation that matches House bill.
November 9, 2007 - HR 3996 HAS PASSED THE HOUSE (with our provision attached)!!!
Our teams will be focusing on the next step, the Senate. But, we still need you to respond to the CALL TO ACTION to continue to show support in the House.
November 1, 2007 - We are VERY EXCITED to pass on to you the encouraging news that today our champion, Mr. Van Hollen, submitted us as an amendment to HR 3996, The Temporary Tax Relief Act of 2007, with bi-partisan support and words of support from Committee Members Reps. Johnson (R-TX-3), Ramstad (R-MN-3) & Berkley (D-NV-1).
Rep. Berkley read a powerful story from a ReformAMT member who responded to our Call to Action and who owed $1.2M on a gain of $30,000. Rep. Lofgren and Rep. McCrery were hugely helpful and instrumental in making this happen.
Much more work remains to be done. But this was a significant step forward that improves our chances of getting the much-needed relief to the President's desk this year, and ending this nightmare once and for all.
WE NEED YOUR HELP! If you haven't already, please respond to the CALL TO ACTION (NOVEMBER 3)!!!!
October 15, 2007 - CALL TO ACTION (NOVEMBER 3)!!!!
HR 3861 has been introduced in the House by The Honorable Congressman Van Hollen. This is a comprehensive bill that covers EVERYONE.
September 1, 2007 - We are working hard on Phase II of the relief. There is interest in DC to continue the effort. However, we are still severely limited by funding.
Updated Mar 25, 2007 (Original Mar 12, 2007) - A second hearing on the AMT. CALL TO ACTION - AMT PHASE II!!! Testimony to Ways and Means. Deadline is April 5, 2007.
Dec 27, 2006 - Click here for more information on HR 3385 (including important information on year-end financial strategies you need to consider before 2007) and our next steps.
Find out how your Representative and Senator voted on the bill (HR 3385):