Unfortunately, the "relief" was merely restoring the 2007 Alternative Minimum Tax exclusions to the same level as last year.  In the world of Washington Legislative spin, that's considered a tax cut.  The delay, however, in getting even this, and other expected 2007 tax legislation done may result in late tax refunds and an inability for people to plan their affairs.  Click on Full Article to read more.

By Russell O. Coon, CPA