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TAX PLANNING

The Alternative Minimum Tax May Affect More People

By The BIDaWIZ Team on September 28th, 2012 at 3:00 pm

The alternative minimum tax (AMT) could start impacting an even larger group of taxpayers for the 2012 tax year. This archaic tax was originally created as a way to ensure that wealthy taxpayers couldn't take advantage of tax loopholes and instead pay a minimum amount of federal income tax. While there is basis for the intent of this tax law, it is one of the most poorly designed laws since it has not been adjusted for inflation. Find out if you might get hit up for the AMT for the 2012 tax year. .
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