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Form 6251 Texas Dallas: What You Should Know

The IRS uses only your information to determine whether you fall into one of the seven AMT exemption criteria. It is very important to fill Form 6251 out if you are not sure. The penalty could cost you your AMT exemption and, if you fail to file Form 6251, your taxable income for the year would be substantially reduced. If you find out that you aren't AMT eligible, the IRS may also revoke your exemption. That means that in future years you will owe taxes on the income that you do not have. The AMT is complicated. If you want to know more about AMT, contact your accountant. They will be able to tell you which situations are most likely to warrant the AMT. To be AMT-eligible, you have to make certain basic qualifying income and the AMT. If you are a U.S. citizen (including U.S.

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