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Posts Tagged ‘amt’
What is The Alternative Minimum Tax?
April 22, 2016
High-income taxpayers often use tax breaks and loopholes in the tax code to significantly reduce their tax liability. The alternative minimum tax (AMT) is applied to high-income taxpayers to ensure that they at least pay the minimum amount of tax. It does not as allow many deductions that other taxpayers use to reduce taxes. The AMT was introduced after the government found that several high-income taxpayers were legally reducing their tax bill, sometimes to zero. The ...
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