A bill to amend the Internal Revenue Code of 1986 to provide relief to individuals from the penalty for failure to pay estimated taxes on amounts attributable to the alternative minimum tax in cases where the taxpayer was not subject to the alternative minimum tax in the preceding year.
AMT Penalty Protection Act of 2007 - Amends the Internal Revenue Code to exempt taxpayers who did no owe alternative minimum tax in a preceding taxable year from penalties for failure to pay estimated tax on alternative minimum tax liabilities for the current taxable year.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S9781-9782)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9782)
Sponsor introductory remarks on measure. (CR S11739-11742)
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