Our work is not done! Help fund ReformAMT!
Our efforts going forward include :
Passing legislation isn't easy and it isn't cheap!
- 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.
Since ReformAMT's founding in 2001, our team has been tirelessly pursuing relief through legislation, education, and litigation. In 2006, our efforts led to the passage of HR 3385, which refunded ~70% of your total AMT credits over 5 years. In 2007, our efforts led to the passage of a technical correction to HR 3385, which refunded your AMT credits over 5 years. In 2008, we led the successful passage of S 2389/HR 3961, which abates all outstanding liabilities, penalities, and interest, refunds all of your AMT credits over 2 years without income caps, and refunds any interest and penalties already paid.
The cost of our dedication includes :
Most of our liability is still outstanding. To cover a portion of our past liabilities, a few of us have taken out loans or borrowed.
- 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
- Travel expenses for ReformAMT members to DC
ReformAMT is structured to maintain the privacy of our members, leaders, and contributors. ReformAMT is in the process of formalizing into a non-profit organization.
We sincerely ask for your help to fund our efforts going forward and to cover our past bills by pledging a small percentage of your refund.
Thank-you for your support.
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