AMT Credit Fairness Act of 2005

The AMT Credit Fairness Act of 2005 (H.R. 3385) aims to provide financial relief to taxpayers who have accumulated long-term, unused Alternative Minimum Tax (AMT) credits. Under this proposal, individuals with AMT credits that are more than four years old would be eligible for a refund of at least $5,000 per year, or 20 percent of their total unused credit, whichever is greater. Additionally, the bill would require corporations to provide specific tax disclosures to employees who receive stock options, helping them better understand the potential tax implications of their compensation.