The alternative minimum tax (AMT),which was created to prevent people with high incomes from avoiding paying little or no tax, has had the unforeseen effect of also netting the “not-so-rich.”
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Gregory S. DuPont
Planning Ahead to Avoid the AMT
The alternative minimum tax (AMT) is a parallel tax system that was introduced in the 1960s to ensure that wealthy taxpayers pay at least a minimum amount in Federal taxes.
Gregory S. DuPont
AMT—The Tax Trap
AMT may be affecting more and more middle-income taxpayers, but until Congress takes legislative action, your chances of paying the AMT may keep increasing.