Quick News Spot

More Rich Taxpayers Hit With AMT Under House GOP Legislation


More Rich Taxpayers Hit With AMT Under House GOP Legislation

The number of wealthy Americans paying the individual alternative minimum tax could grow if a change in the House-passed Republican tax-and-spending package remains in place.

The 2017 GOP tax law slashed the number of taxpayers owing the AMT -- a regime meant to ensure the wealthiest pay a minimum tax rate -- from millions to about 200,000. The AMT has different rules and exemptions from the regular tax system. High-income earners pay whichever is highest, regular income taxes or the AMT.

The House legislation seeking to renew expiring parts of the 2017 tax law includes a last-minute amendment, moving the base year for calculating ...

Previous articleNext article

POPULAR CATEGORY

corporate

4724

tech

4045

entertainment

5863

research

2673

misc

6230

wellness

4731

athletics

6114