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

Tax deferral

Shifting income to a later year, such as where you defer taxable interest to the following year by purchasing a T-bill or savings certificate maturing after the end of the current year. Investments in qualified retirement plans provide tax deferral.

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