Tag Archives: Alternative Minimum Tax

What is the Alternative Minimum Tax?

Targeting high-income taxpayers, the alternative minimum tax was enacted to combat only 155 households who were getting away with not paying any tax at all through credits, deductions, and exemptions. By today’s numbers, the AMT covers millions of families and grows each year. In 2008, the AMT grew to 3.9 million (up from 605,000 in […]

The Alternative Minimum Tax Rules

If you’ve never had to pay the Alternative Minimum Tax before, it doesn’t mean that you may not have to pay it in the future. If your income is above a set threshold, this may be your year to pay. The point of the tax is to ensure that taxpayers are responsible for a minimum […]

If you’ve heard of the Alternative Minimum Tax, you’re probably wondering if it applies to you, and what you should expect if it does. If your income is above a specific amount, you may fall under the guidelines of the Alternative Minimum Tax. The point of the AMT is to maintain a minimum level of […]