Making Work Pay $400/$800 vs. Alt. Min. Tax?

[OtisMozzetti]

The up to $400/$800 Making Work Pay Credit is even refundable for regular income tax; we all know that. What about the alt. min. tax?

[Bees Knees]

The making work pay credit is a refundable credit, meaning it is refundable even when the tax liability is otherwise zero. None of the refundable credits, such as EIC, excess FICA withholding, additional child tax credit, or the federal fuels tax credit are ever considered adjustments to AMT because they are treated as tax payments, not tax credits. Thus, the making work pay credit is not an adjustment to AMT.

[New York Enrolled Agent]

This is completely off-topic but in the Tuesday edition of the New York Times, there was a full page ad for an upscale wine & spirit store. One of the featured wines was a "new discovery from New Zealand" called Bee's Knees. The wine is a 2007 Marlborough Sauvignon Blanc and was described as "full throttle". The ad said look for "masses of passion fruit and nectarine along with herbal nuances and racy acidity". Sounds like our Bees.

Bees - its $14.95 a bottle and you can call Sherry-Lehman at 212-838-7500 to order a case for $179.40.

[Bees Knees]

Thanks for the info. Looks like I need to order some wine.

[Gene V]

Thanks for the info. Looks like I need to order some wine.

You might as well have some peanut butter to go with it.

http://www.ilovepeanutbutter.com/detail_17010007__4.html

[OtisMozzetti]

Thank You

The making work pay credit is a refundable credit, meaning it is refundable even when the tax liability is otherwise zero. None of the refundable credits, such as EIC, excess FICA withholding, additional child tax credit, or the federal fuels tax credit are ever considered adjustments to AMT because they are treated as tax payments, not tax credits. Thus, the making work pay credit is not an adjustment to AMT.

Thank you, Bees Knees, for your help with my inquiry. I sort of figured that out by putting numbers into the Form 1040 for the most recent 2008 tax year.