Tax Article - Online AMT Assistant
The Internal Revenue Service is providing a new online tool, the AMT Assistant, to help individual taxpayers determine whether they are potentially subject to the alternative minimum tax (AMT). The AMT Assistant automates the AMT Worksheet of the 1040 Instructions, Worksheet to See if You Should Fill in Form 6251-Line 45. Taxpayers who file paper returns will benefit the most from the AMT Assistant because e-file software generally computes AMT liability automatically. The information provided as the IRS website is anonymous and will be used only for purposes of determining AMT liability; it will not be shared, stored or used in any other way, nor can it be used to identify the individual who enters it.
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This new tool will be available on the IRS website at IRS.gov. To locate it, enter "AMT Assistant" in the search box on the web site. Taxpayers must complete a draft 1040 through line 44 and have that form available to use the AMT Assistant. The IRS website also has an "Additional Resources" section, with helpful information and links.