[Boost-bugs] [Boost C++ Libraries] #8153: Organizations Failing To Claim AMT Exemption Overpay Taxes By $11, 000 ###

Subject: [Boost-bugs] [Boost C++ Libraries] #8153: Organizations Failing To Claim AMT Exemption Overpay Taxes By $11, 000 ###
From: Boost C++ Libraries (noreply_at_[hidden])
Date: 2013-02-23 02:50:50

#8153: Organizations Failing To Claim AMT Exemption Overpay Taxes By $11,000 ###
-------------------------------+--------------------------------------------
 Reporter:  itbredcentgas1989  |        Type:  Bugs            
   Status:  new                |   Milestone:  To Be Determined
Component:  None               |     Version:  Boost 1.52.0    
 Severity:  Problem            |    Keywords:                  
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 Does your incorporated business pay alternative minimum tax [AMT]? In that
 case, there's a 93% chance you've been overpaying your taxes by typically
 $11,000 per year based on the Treasury Inspector General.

 The Office of the Treasury Inspector General for Tax Administration was
 made in 1999 to oversee the IRS. One of the duties of the Treasury
 Inspector General would be to report and study the effectiveness of the
 tax payment system, particularly the accuracy of tax collection efforts.
 Starting results are revealed by many of the studies conducted by the
 office, particularly if it concerns businesses overpaying their fees.

 Within this oversight, the Treasury Inspector General is reporting that
 lots of business corporations are incorrectly spending AMT. The AMT was
 introduced in the late 1990s, but turned out to be a huge burden on small
 businesses. The tax was confusing and the paperwork was incredibly
 complicated. An amendment was therefore put into give small business
 organizations relief from the AMT. Language is now contained by section
 55-LRB- e ) of the Internal Revenue Code exempting small business
 organizations from paying the AMT.

 An exemption can be claimed by small business corporations from the AMT if
 major profits typical $5 million or less for the initial 36 months of
 business. Then, the business can continue steadily to claim the exemption
 as long as profits regular $7.5 million or less of each and every
 subsequent three year period.

 In line with the Inspector General, organizations that neglect to claim an
 to the AMT are overpaying taxes by on average $11,638 every year. 93% of
 small business corporations be eligible for a the exemption. Because the
 IRS has no duty to inform people of overpayments, many small business
 organizations have no idea they're overpaying taxes and are due
 concessions.

 All people have the best to file amended tax returns for the past three
 calendar years. Contact us now to learn in the event that you did not
 declare the exemption to the AMT and are due a for 2003 and 2001, 2002. If
 you failed to claim the AMT exemption, you may be due a totaling over
 $33,000.

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Ticket URL: <https://svn.boost.org/trac/boost/ticket/8153>
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