Unless Congress takes action, many taxpayers could be facing an "April surprise" of a federal tax bill for 2012. The reason is Congress hasn't adjusted the exemption for the alternative minimum tax for 2012. (The Congressional correction for this is call an "AMT patch". It's almost an annual ritual.)
Energy credits allowed for AMT for 2010 and 2011
The Unemployment Insurance Reauthorization and Job Creation Act of 2010 (HR 4853), passed by Congress on December 16, extends the reduction of alternative minimum tax (AMT) liability for nonrefundable personal credits, including the credit for nonbusiness energy property and the credit for residential energy efficient property, through 2011.
Finally AMT exemption increased for 2010 (and 2011)
The Unemployment Insurance Reauthorization and Job Creation Act of 2010, passed by Congress on December 16, includes increased alternative minimum tax exemption amounts for 2010 and 2011.