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 ...

Exempt-interest dividends, typically distributed by municipal bond funds, are generally not subject to federal income tax, but they can be impacted by the alternative minimum tax (AMT) . Certain ...

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...

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 ...