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Publication: Finance Wire

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Original Source: AMERICAN MORNING

ANNOUNCER: From the CNN Broadcast Center in New York, this is AMERICAN MORNING with Bill Hemmer and Soledad O'Brien.

BILL HEMMER, CNN ANCHOR: GERRI WILLIS, CNN-FN PERSONAL FINANCE EDITOR: Hey, Bill good to see you. This is a great topic. I've got to tell you. You think the IRS is scary? Wait until you see what the Alternative Minimum Tax has in store for you.

(BEGIN VIDEOTAPE)

WILLIS (voice-over): Meet the Gunther's little deductions. There's the oldest, Maggie a junior in high school and Catherine, almost 2, the young youngest. And seven in between. A total of nine kids. In a typical year, each child represents a $3100 tax deduction for their parents, Gary and Mary.

The sheer size of their family, plus a variety of other factors, has made them subject to something called the Alternative Minimum Tax this year. That means they lose the usual write-offs, like: mortgage deductions, personal exemptions, and worst of all, deductions for their kids.

GARY GUNTHER, FATHER OF NINE CHILDREN: And...

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