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What Exactly is the Alternative Minimum Tax?

April 26, 2017alternative Alternative Minimum Tax AMT minimum paying taxes tax taxes

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What Exactly is the Alternative Minimum Tax?

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The alternative minimum tax was created back in the ’60s to ensure that a group of fat cats were paying their fair share of taxes. Unfortunately for many of us, it was never indexed for inflation. That’s why more middle-class folks are being hit by the AMT, which usually results in a higher tax bill. The Q&A below explains how the AMT works.