We have been ranting about the unfairness of the alternative minimum tax (AMT) for 25 years.
A commissioned W-2 employee who deducts his legitimate employee business expenses as employee business expenses on IRS Form 2106 experiences this unfairness firsthand.
Example. Paul Hathaway worked as an employee sales agent for the Apparel Group Ltd. By putting his employee business expenses on IRS Form 2106, he triggered the AMT and overpaid his taxes by more than $10,000 a year.
One day Mr. Hathaway heard ... Log in to view full article.