January 7, 2008 12:00 am

AMT Patch at Last

Just before Congress recessed for the Christmas break, it approved a one-year fix to the alternative minimum tax (AMT) problem

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Tax Glossary

Alimony

Payments made to a separated or divorced spouse as required by a decree or agreement. Qualifying payments are deductible by the payor and taxable to the payee.

More terms