Why are taxes so complicated? Q.Why are taxes so complicated? A.Our tax system could be simple if its only purpose were to raise revenue. But it has other goals, including fairness, efficiency, and enforceability. And Congress has used the tax system to influence social policy as well as to deliver benefits for specific groups and industries. Briefing Book page Read more about Why are taxes so complicated?
Who pays the AMT? Q.Who pays the AMT? A.The individual alternative minimum tax (AMT) primarily affects well-off households, but not those with the very highest incomes. It is also more likely to hit taxpayers with large families, those who are married, and those who live in high-tax states. Briefing Book page Read more about Who pays the AMT?
How much revenue does the AMT raise? Q.How much revenue does the AMT raise? A.About $35 billion in 2017, or about 2.2 percent of all individual income tax revenue. By 2026, AMT revenue will total $57 billion, or 2.3 percent of all individual income tax revenue. Briefing Book page Read more about How much revenue does the AMT raise?
