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Alternative Minimum Tax |
Also found in: Acronyms, Wikipedia | 0.01 sec. |
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Alternative Minimum Tax (AMT) A federal tax aimed at ensuring that wealthy individuals, estates, trusts, and corporations pay a minimal level income tax. For individuals, the AMT is calculated by adding adjusted gross income to tax preference items. |
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? Mentioned in | ? References in periodicals archive | |
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* A "fix" for the Alternative Minimum Tax problems will
have to await the 110th Congress
The likely proposed
course of action: raise taxes on the upper brackets to produce enough
revenue to eliminate the alternative minimum tax increases now hitting
upper middle class taxpayers, most of them in the Northeast. The AICPA said it backs the Alternative Minimum Tax Repeal Act of
2005 (HR 1186; http://thomas. |
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Alternative Minimum Tax
