009! It may affect you if you are married and made $65,000 this year or are single and made $42,000.

You may have to figure your tax based on the regular tax formulas and the Alternat

Are you aware that the IRS is waiting to snare you and grab more of your money? As a middle income tax payer, I was not aware that the government is just waiting for me to increase my annual income so they can skim more off the top. The alternative minimum tax was originally designed to affect the wealthy, who have often not paid their fair share of taxes because of allowed deductions and other ways of avoiding their tax obligation. But it is now starting to affect more and more middle income Americans.

The Alternative Minimum Tax applied to 19,000 returns in 1970 and continues to grow each year. In 2003 it was applied to 2.4 million income tax returns. In 2006 it is expected to affect 3.8 million tax returns, and will grow to 35 million by 2009! It may affect you if you are married and made $65,000 this year or are single and made $42,000.

You may have to figure your tax based on the regular tax formulas and the Alternati

l income so they can skim more off the top. The alternative minimum tax was originally designed to affect the wealthy, who have often not paid their fair share of taxes because of allowed deductions and other ways of avoiding their tax obligation. But it is now starting to affect more and more middle income Americans.

The Alternative Minimum Tax applied to 19,000 returns in 1970 and continues to grow each year. In 2003 it was applied to 2.4 million income tax returns. In 2006 it is expected to affect 3.8 million tax returns, and will grow to 35 million by 2009! It may affect you if you are married and made $65,000 this year or are single and made $42,000.

You may have to figure your tax based on the regular tax formulas and the Alternat

ductions and other ways of avoiding their tax obligation. But it is now starting to affect more and more middle income Americans.

The Alternative Minimum Tax applied to 19,000 returns in 1970 and continues to grow each year. In 2003 it was applied to 2.4 million income tax returns. In 2006 it is expected to affect 3.8 million tax returns, and will grow to 35 million by 2009! It may affect you if you are married and made $65,000 this year or are single and made $42,000.

You may have to figure your tax based on the regular tax formulas and the Alternat

in 1970 and continues to grow each year. In 2003 it was applied to 2.4 million income tax returns. In 2006 it is expected to affect 3.8 million tax returns, and will grow to 35 million by 2009! It may affect you if you are married and made $65,000 this year or are single and made $42,000.

You may have to figure your tax based on the regular tax formulas and the Alternat

009! It may affect you if you are married and made $65,000 this year or are single and made $42,000.

You may have to figure your tax based on the regular tax formulas and the Alternative Minimum Tax, then paying whichever is higher. The Alternative Minimum Tax is a flat tax with 26 and 28% brackets. It is not adjusted for inflation, so as income levels increase it captures more and more people. This tax formula focuses on dependent exemptions, medical deductions and state and local tax refunds. Many will be disallowed or reduced. Investments with high interest income, municipal bonds and stock options will be targeted as well.

The new democratic congress has identified he Alternative Minimum Tax as a primary focus for the new years work. Specifically Senators Max Barcus, Charles Grassely and Representatives Charles Rangel and Steny Hoyer. You may want to check into their progress and contact them about your concerns.