Official Summary

9/24/2008--Passed House without amendment. (This measure has not been amended since it was introduced. The summary of that version is repeated here.)Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend through 2008 for individual taxpayers: (1) the offset

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Official Summary

9/24/2008--Passed House without amendment. (This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend through 2008 for individual taxpayers:
(1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liability; and
(2) the increased alternative minimum tax (AMT) exemption amounts.
Increases the alternative minimum tax (AMT) refundable credit amount for individuals who have long-term unused minimum tax credits from prior taxable years. Abates any underpayment of tax attributable to the application of special AMT rules for the treatment of incentive stock options.


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