Many more taxpayers will pay the alternative minimum tax (AMT).
In recent years, Congress has increased the exemption for AMT each year to keep the levy from affecting millions of taxpayers. Expiration of the 2001 and 2003 income tax cuts will reduce the impact of the AMT by raising regular taxes—people pay the AMT only if it exceeds their regular tax. Still, if Congress doesn’t continue to allow higher AMT exemptions, many more taxpayers will owe the alternative tax.
What is the effect of AMT under Current Law?
| AMT Statistics under Current Law |
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How would different proposals affect the AMT?
| Repeal Individual AMT |
| By Cash Income Level | By Cash Income Percentile |
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| Index 2009 Parameters of AMT to Inflation |
| By Cash Income Level | By Cash Income Percentile |
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