Alternative Minimum Tax - Personal Finance Glossary - E-PersonalFinance

Alternative Minimum Tax - Personal Finance Glossary - E-PersonalFinance

Alternative Minimum Tax

"Alternative minimum tax" or "AMT" is a federal tax designed to prevent wealthy taxpayers from paying their fair share of taxes by way of various tax deductions. For individuals, the AMT is calculated by adding "Adjusted Gross Income" to various tax preference items.

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