Passing legislation isn't easy and it isn't cheap!
Please Donate Today
ReformAMT was founded in early 2001 by a group of individuals who were hit with paying taxes on money they never made. This unintended consequence of the AMT taxes Incentive Stock Options when the stock is purchased (not when the stock is sold). The stock market crash of 2001 left individuals and families with a tax burden that in many cases exceeded their entire net worth. Some went public with their story. These people, from all over the country across all industries, met through the media and through the internet - thus beginning the ReformAMT.org effort.
Our Mission and Efforts
ReformAMT is a national grassroots movement completely comprised of volunteers whose mission was to help those who were victims of the AMT's treatment of Incentive Stock Options (ISO AMT issue). ReformAMT led a nationwide effort that included :
- Education and Raising Awareness. The ISO AMT issue is complex and not well understood (including by members of Congress, the IRS, Accountants, Media, Financial Advisors, and those who were affected). We have been active through the media, letter writing campaigns, meetings, Congressional hearings and testimonies to raise awareness, educate, and advocate change.
- Legislative Relief. We have worked with Congress in introducing over 10 bills addressing the ISO AMT issue. These efforts include organizing letter writing and phone campaigns, travel to Washington DC, hiring and working with lobbyists, coordinating media, partnering with corporations, and enlisting trade associations and think tanks. Three of our bills have successfully passed into law. HR 3385, which refunded AMT credits over a period of 5 years, passed in 2006. A bill broadening HR 3385 passed in 2007. And S 2389/HR 3861, which provides full retroactive relief, passed in 2008. Details of the full relief can be found in our HR 1424 Guide
- Administrative Relief. We have been working with the IRS, the National Tax Payer's Advocate, and the Franchise Tax Board in seeking ways to provide relief for people being actively pursued by collections. Some of our members have had their cases resolved or suspended until the passage of legislation.
- Judicial Relief. We have been working with attorneys and accounting professionals vetting legal arguments and other remedies in seeking legal means for challenging the active ISO AMT law in courts. Our leaders have personally tested many legal avenues before bringing potential solutions to our members. Many of the court cases are still ongoing, but now that our legislative effort was successful, these court cases are moot.
We Urgently Need Your Support Now
Our work is not done! ReformAMT needs to continue to lead the following activities :
Since ReformAMT's founding in 2001, our team has been tirelessly pursuing relief for those affected by ISO AMT. We have perservered and prevailed, deliverying relief to those struggling with outstanding taxes and delivering refunds to those who have paid. The cost of our dedication includes :
- Public education. Despite the passage of H.R. 1424, ISOs continue to be taxed unfairly by the AMT. People have been caught in this trap in the past due to the ignorance of the law. ReformAMT needs to continue public education to prevent this disaster from happening again.
- Professional education. Financial advisors, accountants, and other professional consultants frequently are not familiar with the law, leading to incorrect and bad advise to many. ReformAMT has working relationships with many professional organizations and plans to make sure everyone is aware of the complexities of the AMT and its treatment of ISOs.
- Outstanding cases. Unfortunately, new rules and regulations from a new law takes time to filter down through the IRS, which means that many are still being agressively pursued. ReformAMT needs to continue its effort with the National Tax Payer's Advocate and families while the IRS can catch up to the new law.
Most of our liabilities are still outstanding. To cover a portion of our past liabilities, a few of us have taken out loans or borrowed. ReformAMT has been structured to maintain the privacy of you, our members, leaders, and contributors.
- Lobby and legal fees
- Individuals who have taken no salary or compensation and have placed their careers on hold to devote FULL time to this effort
- Expenses related to press and communication
- Expenses related to the web and infrastructure
- Office expenses, taxes, incorporation fees, and professional counsel
- Travel expenses for ReformAMT members to DC
ReformAMT is in the process of formalizing the organization into non-profit status.
Make a Donation
If you are getting a refund, please consider a donation of 3 to 5% of your total refund. We feel that if all of our members contribute within this range that we will be able to hit our funding goals.
- Paypal :
- Mail checks to PO Box
P.O. Box 915
Cupertino, CA 95015
- Make a Pledge