12-20-2007, 11:44 AM
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Enthusiast
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Hybrids: Altima
Posts: 19
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Re: No Hybrid Tax Credit with AMT
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Since 2001, Congress has temporarily increased income exemption levels. The last "patch" - for 2006 - put the exemption levels at $62,550 for joint filers and $42,250 for single filers. The bill the House passed calls for an increase in those levels to $66,250 and $44,350, respectively. Without a patch, the 2007 exemption amounts would have fallen to $45,000 for joint filers and $33,750 for single filers.
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