Who pays the Alternative Minimum Tax?
Answer:
The IRS’ recently-released statistics for the tax filing season. At income levels up to $100,000, fewer than 1% of taxpayers are in the AMT. For income levels between $100-200,000, this increases to 6%. After this At the $200,000 level up through $500,000, 70% of the taxpayers in this group are paying the Alternative Minimum Tax.
Unless Congress specifically addresses the issue with another AMT Patch, this
Unless Congress specifically addresses the issue with another AMT Patch, this