ReformAMT is the largest non-partisan, grass roots organization focused on a
broad legislative remedy to correct a flaw in the Alternative Minimum Tax.s
(AMT) antiquated treatment of Incentive Stock Options (ISOs). This
widespread issue has financially devastated taxpayers who, under the current
law, must pay taxes on phantom income they have never received. Founded in
2001, ReformAMT has grown to include thousands of members in 48 states & 306
Congressional districts. ReformAMT has been at the forefront of educating
corporations, tax professionals, trade associations and lawmakers about the
AMT.s negative impact on taxpayers who exercise incentive stock options and
continues to work closely with these groups as well as organizations such as
the Coalition for Tax Fairness to achieve full relief for taxpayers.
Our mission is to correct an injustice created by the way in which the
Alternative Minimum Tax (AMT) is inappropriately and unjustly imposed upon
owners of incentive stock options. Through the building of a grassroots tax
reform organization we seek to urge Congress to correct this flawed tax
code, which has resulted in financial devastation for taxpayers obeying this
We are hard-working taxpayers who seek to educate the public and dispel rumors about Alternative Minimum Tax or AMT. Created in 1969, the AMT was designed to make sure that the very rich, using tax loopholes to their benefit, would not be able to escape all tax. It worked for a while but there are many flaws, and now many of our members and more are suffering the consequences. They are paying taxes on paper gains that were never realized.
Many people misunderstand AMT and scoff at those affected, calling them "dot.com millionaires who do not want to pay their taxes". In fact, many of those affected by AMT never made a dime selling their incentive stock options, or ISOs, and never will. Many are middle-class Americans from all across the US and range from administrative assistants and engineers to accounting managers and CEOs.
Through our proactive efforts to educate members of Congress, influential
trade organizations, and taxpayers (particularly those working in the high
tech industry) we were successful in achieving landmark legislation in
2006. Our latest efforts for 2007 will help more taxpayers escape financial
devastation and had broad bi-partisan support. However, given the current
challenging political climate, we need everyone's help in order to get this
year's AMT bill passed in the Senate. Our goal of working closely and
educating all members of Congress will not only save the financial futures
of many of our members but will prevent others in the future from
experiencing the same devastating consequences from AMT.