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the one fiscal cliff that is killing me is the AMT patch
To protect more than 30 million middle class households from having to pay the Alternative Minimum Tax, Congress typically passes an AMT "patch" every year.
They have yet to do so for 2012, but because most Americans don't have to file their returns until early 2013, lawmakers could pass a patch at any point this year and have it apply in time for the 2013 filing season.
The patch increases the amount of income tax filers may exempt from consideration when calculating whether they need to pay the AMT.
Without the AMT patch, tax filers would only be able to exempt $33,750 in income if single or $45,000 if married filing a jointly, according to CCH, a tax information publisher. That is considerably less than the $48,450 that single filers and $74,450 joint filers may claim on their 2011 returns.
If you've had to go through this this is a painful way to have to pay your taxes.
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