The alternative minimum tax (AMT) can reduce or eliminate the benefit of the standard deduction for certain taxpayers, particularly those with higher incomes or specific types of tax-preference items.

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

The alternative minimum tax (AMT) is a separate tax system that makes sure people with high incomes still pay some tax, even if they have a lot of deductions. It removes some common deductions, like ...