Tax reform has changed the corporate income tax as we know it. In the midst of all the complications brought by the new law, the elimination of the corporate . With income thresholds higher and a lower SALT deduction after tax reform , the AMT will realistically only apply to wealthy Americans with . Despite tax reform , the alternative minimum tax will hit some taxpayers this year, and certain investments can trigger it. For the last few months, Congress has been hard at work revising the tax code, a process that has added a great deal of uncertainty to year-end .
To understand the significance of the TCJA changes, first,. Tax Reform advocated increasing the AMT exemption to . The alternative minimum tax has long been a thorn in the side of U. The AMT calls for certain taxpayers to calculate their tax liability two times. OMB reportedly has determined that refundable alternative minimum tax ( AMT ) credit carryforwards are not subject to sequestration.
The AMT increases income tax compliance costs for taxpayers. TCJA reforms limited the number of taxpayers filing AMT returns, saving an .