Today’s Federal register is here and contains the proposed incentive stock option regulations.
A parallel tax universe? Fortune.com has posted this very good article by Shawn Tully: “Taxpayer, Beware! Washington will soon be taking back a good chunk of that new tax cut. How? By using the sneakiest trap it’s got: the Alternative Minimum Tax.” The article discusses how many taxpayers may, under tax changes brought about by the Jobs and Growth Tax Relief Reconciliation Act of 2003, find themselves falling into the Allternative Minimum Tax (“AMT”) world despite the tax cuts. According to a recent study by the Urban-Brookings Tax Policy Center, 95% of families and individuals with incomes from $100,000 to $500,000 will fall into the AMT zone by 2010.