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. Read more about Who pays 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. Read more about Did the American Taxpayer Relief Act of 2012 fix the AMT?
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. Read more about Why are taxes so complicated?
