The alternative minimum tax (AMT) is a separate tax system that makes sure people with high incomes still pay some tax, even if they have a lot of deductions. It removes some common deductions, like ...

IRS Form 6251, titled Alternative Minimum Tax—Individuals, determines how much alternative minimum tax (AMT) you could owe. In order for wealthy individuals to pay their fair share of income tax, ...

The alternative minimum tax could increase your tax bill. See what triggers AMT and how to know if it applies to you.

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...

The Alternative Minimum Tax (AMT) is a parallel income tax system designed to ensure that high-income individuals pay a minimum level of tax, regardless of deductions and credits that might otherwise ...

The federal government has followed through on its promise in last year’s budget to update the alternative minimum tax (AMT), which is a parallel tax calculation that allows fewer deductions, ...

Yes. There are two factors that contribute to the imposition of AMT. There are “exclusion items” and “deferral items.” Examples of an exclusion item include miscellaneous itemized deductions and state ...