- Created: Thursday, 12 March 2015 12:07
by Rebecca K. Wohltman, Associate
The Alternative Minimum Tax has been a part of America’s tax system for more than 40 years. Its purpose was to ensure that the wealthiest Americans paid at least a minimum amount of tax. Originally enacted due to less than 200 taxpayers, more than 4 million taxpayers paid $32 billion as a result of the Alternative Minimum Tax in 2012, the latest year for which IRS published data. This series of blogs will start with an explanation of the reason the Alternative Minimum Tax exists, how Congress continues to alter the tax and what it means for taxpayers today.