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but that she assumed that her husband would take care of paying
the taxes. Mr. Chou testified as follows:
A [Mr. Chou] I had some clue at the time of AMT
but the gravity of the situation did not occur to me
until my tax returns were finalized by my CPA.
Q [Mrs. Chou’s counsel] Okay, if I use the term
“AMT-ISO” or “AMT-ISO situation”, it just means a
shorthand for the alternative minimum tax as caused by
the exercise of incentive stock options, so you’ll
understand what I mean by that.
After this occurred, after your AMT-ISO situation
occurred, did you engage in any activities regarding
this?
A Yes. I engaged in numerous activities. First
I reported my tax and I went public with my story and I
started an organization called Reform AMT-dot-org.
We’re a national grassroots organization. We have over
2000 members across 48 states.
And our mission is to appeal to Congress and try
to fix the law.
Q Did you engage in any legislative efforts?
A Yes. Reform AMT has been heavily involved with
our Congress representatives and senators in trying to
introduce bills, and, hopefully, pass bills.
Mr. Chou also testified that he met with the National Taxpayer
Advocate and thereafter filed the OIC. Apparently, challenging
the liability was the strategy adopted when the return was filed
without even partial payment.
There is no suggestion by anyone that Mr. Chou ever deceived
Mrs. Chou or concealed anything from her. Unfortunately, no
party on direct or cross-examination asked Mrs. Chou in detail
about her knowledge of the almost $2 million liability. We
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Last modified: November 10, 2007