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

Tags: Alternative Minimum Tax, Credits/Deductions, Filing, Paying taxes, Refunds, Tax Returns

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Tax Glossary

Qualified plan

A retirement plan that meets tax law tests and allows for tax deferment and tax-free accumulation of income until benefits are withdrawn. Pension, profit-sharing, stock bonus, employee stock ownership, and Keogh plans and IRAs may be qualified plans.

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