alternative minimum tax

  1. Understanding the Alternative Minimum Tax (AMT)

    Tax Returns Understanding the Alternative Minimum Tax (AMT)

    In the past, the rich and wealthy could avoid paying most or all of their income taxes by taking advantage of tax loopholes in the tax code. However, in 1969 the federal government came up with the AMT (Alternative Minimum Tax) in order to put a stop to this tax practice. It was another way to...