
Ask HN: New tax plan and AMT? - toocool
The proposed tax plan should repeal the AMT tax, which is fundamentally a good thing for startup employees.<p>My question is: if you already paid AMT tax in the past and are still taking advantage of AMT credits every year (because you paid AMT tax due to stock options exercise), will those credits go away from now on? Or will those people be grandfathered in and will keep calculating their AMT taxable every year so that they can claim the credit if the spread between federal and AMT in future years is positive?<p>I tried to read the bill but it&#x27;s really too complicated for me to understand.<p>Thanks
======
bradleyjg
Provision: Under the provision, the AMT would be repealed. If a taxpayer has
AMT credit carryforwards, the taxpayer would be able to claim a refund of 50
percent of the remaining credits (to the extent the credits exceed regular tax
for the year) in tax years beginning in 2019, 2020, and 2021. Taxpayers would
be able to claim a refund of all remaining credits in the tax year beginning
in 2022. The provision would generally be effective for tax years beginning
after 2017.

From [http://3hm75d2ak36959oew3zvzim1.wpengine.netdna-
cdn.com/wp-c...](http://3hm75d2ak36959oew3zvzim1.wpengine.netdna-cdn.com/wp-
content/uploads/2017/11/Tax-Cuts-And-Jobs-Act.pdf) Page 26

Keep in mind that it is highly unlikely the proposed bill will make it through
unchanged. It hasn't even passed the House and the Senate still needs to weigh
in.

~~~
toocool
Thank you Sir/Ma'am, much appreciated.

