How might we improve the AMT? Q.How might we improve the AMT? A.Congress could retarget the AMT to its original purpose or enact a major overhaul of the income tax system, eliminating the need for an alternative tax. Briefing Book page Read more about How might we improve the AMT?
Did the American Taxpayer Relief Act of 2012 fix the AMT? Q.Did the American Taxpayer Relief Act of 2012 fix the AMT? A.The American Taxpayer Relief Act of 2012 (ATRA) prevented an explosion in the number of tax filers ensnared by the AMT. Nonetheless, some 5.2 million will pay the AMT in 2017. Briefing Book page Read more about Did the American Taxpayer Relief Act of 2012 fix the AMT?
How much revenue does the AMT raise? Q.How much revenue does the AMT raise? A.About $38 billion in 2017, or about 2.5 percent of all individual income tax revenue. By 2027, AMT revenue will total $60 billion, or 2.4 percent of all individual income tax revenue. Briefing Book page Read more about How much revenue does the AMT raise?
