Our mission is to correct an injustice created by the way in which the Alternative Minimum Tax (AMT) is inappropriately and unjustly imposed upon owners of incentive stock options. Through the building of a grassroots tax reform organization we seek to urge Congress to correct this flawed tax code, which has resulted in financial devastation for taxpayers obeying this law. Congressman Sam Johnson has been a champion, friend, and ally - read his statement on ISO-AMT. Beyond correction of the law, we also seek full redress from the United States Government for those affected. More...
Reminder - if your contact information has changed, please re-register!
April 16, 2008 to Present - UPDATE and CALL TO ACTION!
The Senate is working on the Tax Extenders package as you read this. This is the vehicle we have been waiting for. YOU NEED TO CONTACT YOUR SENATOR NOW! EMAILED LETTERS ARE NOT ENOUGH -
Follow up with a PHONE CALL. Ask to speak with the Tax Policy Advisor or the Tax Legislative Assistant. If you have an established relationship with others in the Senator's office, ask to speak to that/those person(s). If you can't speak to your contact live, be sure to leave a message.
Be sure to contact both DC and district offices.
The message is simple, "Please include S 2389 ISO-AMT in the Tax Extenders Package".
Tap your network - family, friends, peers, support groups - point them to this Call to Action!.
If you have already done the above, contact your Senator's office AGAIN! You can get your Senator's contact info here.
Great News! Senator Grassley, ranking member of Senate Finance Committee, cosponsors S 2389!
This is HUGE! We have been working to get Senator Grassley's cosponsorship on our provision for years! And for Senator Grassley to be our first Republican Senate cosponsor is a big win for the effort. Stay tuned for more news...
The House has passed the Senate version of the AMT patch (bare bones without any provisions), so we will need to extend the fight into next year. We have alot to look forward to in a month or so, and we have alot to be proud of.
Our champions in the House and Senate reiterated that they remain committed to getting our provision passed passed as quickly as possible
Due to your efforts, our visibility in Congress has not been higher. So far, there has not been objections to our issue. Rather, we ran out of time this year.
Both our House and Senate bills remain intact
Please see your member email update for more details. (not a member? click here to become one)
Don't do anything rash! We have not lost! In fact, we have never been closer to finally ending this nightmare. Stay tuned for more updates...
Our provision made it into the new House AMT Patch (HR 4351). The AMT Patch could be decided upon THIS WEEK! We need to focus our efforts on the Senate.
Our teams will be focusing on the next step, the Senate. But, we still need you to respond to the CALL TO ACTION to continue to show support in the House.
November 1, 2007 - We are VERY EXCITED to pass on to you the encouraging news that today our champion, Mr. Van Hollen, submitted us as an amendment to HR 3996, The Temporary Tax Relief Act of 2007, with bi-partisan support and words of support from Committee Members Reps. Johnson (R-TX-3), Ramstad (R-MN-3) & Berkley (D-NV-1).
Rep. Berkley read a powerful story from a ReformAMT member who responded to our Call to Action and who owed $1.2M on a gain of $30,000. Rep. Lofgren and Rep. McCrery were hugely helpful and instrumental in making this happen.
Much more work remains to be done. But this was a significant step forward that improves our chances of getting the much-needed relief to the President's desk this year, and ending this nightmare once and for all.
September 1, 2007 - We are working hard on Phase II of the relief. There is interest in DC to continue the effort. However, we are still severely limited by funding.
Updated Mar 25, 2007 (Original Mar 12, 2007) - A second hearing on the AMT. CALL TO ACTION - AMT PHASE II!!! Testimony to Ways and Means. Deadline is April 5, 2007.
Dec 27, 2006 - Click here for more information on HR 3385 (including important information on year-end financial strategies you need to consider before 2007) and our next steps.
Find out how your Representative and Senator voted on the bill (HR 3385):
June 11, 2006 - Single Mother Loses Her Home (Rep. Duncan Hunter, R-CA-52) The IRS has forced a single mother to sell her home to pay for taxes that far exceed both her annual income and the gross proceeds of her stock. Back in April, we asked Congress to help before it was too late (Her April Letter to Congress). She has now lost her home and is still being forced to make monthly payments to the IRS. To the Honorable Members of both the House and Senate, PLEASE HELP STOP THIS NONSENSE!Read her latest letter.
May 2, 2006 - Illinois Family Loses Everything (Rep. Jesse Jackson, D-IL-2) The IRS forced a family of four out of their home this last February. Husband and Wife of 30 years, Dan and Vicki Taylor have lost everything. And, their children are suffering too. The Taylor's Son had to give up his education at a university; and the Taylor's Daughter had to move in with relatives. All of this because of a tax on NO INCOME --- a tax greater than the Taylor's net worth --- the AMT on ISOs. Read their story.To the Honorable Members of both the House and Senate, please help the Taylors and bring their family back together.
April 27, 2006 - Another Urgent Plea to Congress - Please Help!!! (Rep. Melissa Bean, D-IL-8) Another Illinois Family is about to lose their home. The IRS is about to force another family out of their home because of tax on NO INCOME. Read their story.To the Honorable Members of both the House and Senate, like Angela (see above), you are the Pritchett's last hope.
Member Stories
Meet the Kadillak's (Rep. Carolyn Maloney, D-NY-14) - Seven-year struggle with ISO AMT liability imposed on phantom income Tony and Jennifer, a young couple from Montana, were hit in early 2001 by ISO AMT. They now have two children (2 years old and 5 months old) and live in New York (2 yrs, 5 mos).More...
New bill HR 3385 is introduced to refund AMT credits. Visit Honorable Sam Johnson's website. Read the Coalition for Tax Fairness press release. (July 21, 2005)
Nice turnout of testimonies from ReformAMT members to the President's Advisory Panel on Federal Tax Reform! (July 11, 2005)
President Bush's Tax Reform Panel: You, our members, account for over half of the AMT submissions to the panel, keep them coming. You hail from: AZ, CA, CO, CT, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, NC, NH, NJ, NM, NV, NY, OH, OR, PA, RI, TN, TX, UT, VA, WA, WI, and Canada plus submissions from ReformAMT, CTF and others.
Sample submissions by organizations (Updated Nov 1, 2005)
San Diego Fox Channel 6 ISO AMT Video (March 22, 2005)
You need an Active-X plugin to run the video above. If you are having problems with the video, click here to try running Windows Media Player on your PC.
Ways and Means Select Revenue Measure Testimony (Dec 14, 2004). Click here Congressman Jim McCrery Announces Hearing on Select Tax Issues (Sept 23, 2004). Click here Congresswoman Zoe Lofgren's testimony on AMT (Sept 23, 2004). Click here Congressman Mike Honda's testimony on AMT (Sept 23, 2004). Click here Congressman Duke Cunningham's testimony on AMT (Sept 29, 2004). Click here ReformAMT's thank-you letter to our Congress Representatives (Dec 7, 2004).
Senator Grassley and Senator Baucus Continue to Work on Offer-in-Compromise Program (Dec 14, 2004). Click here Senators' letter to the US Treasury (Sept 3, 2004). Click here ReformAMT's thank-you letter to the Senators (Oct 25, 2004). Click here IRS response to Senate Finance Committee September letter (Oct 28, 2004). Click here Senators' calling for an investigation of the OIC program (Nov 30, 2004).
A Trip Down Memory Lane ... June 18, 2001, Congress Heard Us! Town Hall Meeting with Representatives Robert Matsui, Zoe Lofgren a success!
The office of Representative Zoe Lofgren organized a Town Hall Meeting on Monday, June 18. Representative Robert Matsui, a member of the House Ways and Means Committee as well as an original cosponsor of H.R. 1487, graciously made the trip from Sacramento. Nearly 300 people attended, and the Representatives were deeply moved by the dozens of stories they heard. (See
another photo from the rally.)
