Apr 7, 2015 ... And the set of rules that governs what can and can't be deducted under the AMT  means it's still hitting a fair number of people for whom it was never intended --  those in the middle class and upper middle class. Figuring out whether you're in  the AMT crosshairs means calculating your tax liability twice ...
This exemption is substantially higher than the exemption from regular income  tax. Regular taxable income is adjusted for certain items computed differently for  AMT, such as depreciation and medical expenses. No deduction is allowed for  state taxes or miscellaneous itemized deductions in computing AMT income.
Jun 10, 2011 ... The Alternative Minimum Tax (AMT) was created in 1969 to prevent 155 wealthy  taxpayers from using deductions and credits to avoid paying any ... in 1981 when  the regular income tax was indexed, the reach of the AMT has expanded over  time to hit middle-income people it was never intended to tax.
Mar 15, 2017 ... The AMT is a secondary tax put in place to prevent the wealthy from artificially  reducing their tax bill through the use of tax preference items. The idea was that  people who had very high incomes should not be able to use certain deductions  to lower their tax bill below what should be reasonably expected for ...
Nov 9, 2011 ... The inside story of how the Republicans abandoned the poor and the middle  class to pursue their relentless agenda of tax cuts for the wealthiest one p. ... see  as much as three-quarters of their tax break eroded by the Alternative Minimum  Tax, a levy Congress originally intended to keep rich people from ...
The Alternative Minimum Tax was never intended to hit people in middle income, upper middle income. It was meant for people who are rich and evading taxes.