TurboTax Contends With Its Own AMT ‘Patch’

Posted January 10, 2008 at 1:00am

1: Your company starting sending out this year’s edition of TurboTax before Congress acted, as it was expected to do, on its AMT “patch.” Why didn’t you wait?
2. How big a fix is something like this, coming in the last two weeks of the year?
3. When do you expect to have the update completed?
4. What has been the biggest and most complicated fix you have had to make in the software as a result of changes in the tax law?
5. What’s your own estimate of the impact of this year’s AMT patch? Will any taxpayers who got caught up for the first time last year get relief, or is this just going to prevent additional taxpayers from getting swept up in the AMT net?