Stock Options are not the only thing that can get an honest guy snagged for the AMT. Taxpayers must fill out form 6251 if they make over $22,500 and claim credits for:

Driving an Electric Vehicle
Using a solar panel (or any "alterniative fuel") to generate energy for their home
Large medical deductions
You own a business (even Avon or Tupperware)
Inheriting money or assets
Claim intrest on a second mortgage

So there must be some ajustment to make the AMT fair right? Riiiiiiiiiight!

Oil drilling costs (and Mr. Bush doesn't want to make the update of the AMT retroactive?)
Mining exploration and testing
Circulation expendatures (have any of those lately?)
The spouse but not the kids

The law was written in 1969, and modified in 1978, 1982, 1987, 1990 and 1993 - no wonder it's a little complicated. A good rule of thumb is to meet with an accountant (yes get an accountant) BEFORE the end of the calander year if you make over $75,000 per year. There are a few things you can do to your regular taxes that may lessen your total tab.

There is no official IRS publication for taxpayers on the AMT, you can read the IRS auditor's instructions at http://www.irs.ustreas.gov/prod/bus_info/mssp/amt2.html.
Information from:
http://www.irs.ustreas.gov/prod/bus_info/mssp/amt2.html
http://www.fool.com/taxes/2000/taxes000915.htm
http://www.fairmark.com/amt/index.htm

and me, who got hit with AMT along with 3 million other Americans this year, and 8.4 million will by 2007.