The Alternative Minimum Tax (AMT) is a federal tax system designed to ensure that high-income individuals pay their fair share of taxes. The AMT was introduced in 1969 to target high-income...
Alternative minimum tax refers to a percentage of taxes a taxpayer must pay the government regardless of the deductions the taxpayer claims. With the AMT, some taxpayers get to pay...
An alternative minimum tax puts a cap on the tax percentage amount every taxpayer must pay no matter the deductions or credit they claim. As long as your income is above a specified...