The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

The alternative minimum tax was first introduced in 1969 as a way to prevent wealthy people from taking advantage of so many income tax deductions and credits that they paid little, if any, income ...

This separate tax was created to make sure certain high-income taxpayers accounted for their fair share. In recent years, however, it applied to many middle-income and upper-middle-income filers, ...

The Tax Cuts and Jobs Act made many changes to the individual tax law in the United States, and this includes the alternative minimum tax, or AMT. The GOP had been hoping to reduce the impact of the ...