Congress running out of time to patch the AMT

Kevin G. Hall | McClatchy Newspapers

last updated: November 06, 2007 08:18:03 PM

WASHINGTON — For the first time since 2001, it’s not clear that Congress will pass an annual temporary “patch” in time to prevent the creeping Alternative Minimum Tax from forcing up tax payments for millions of unsuspecting middle-class taxpayers.

In addition, if Congress doesn’t “patch” the AMT tax within 10 days — and it appears highly unlikely to do so — then the partisan bickering among lawmakers could delay tax refunds next year for tens of millions of Americans.