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Alternative Minimum Tax - For Individuals Audit Technique Guide
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Alternative Minimum Tax - For Individuals Audit Technique Guide
Overview
- Taxpayers who are not required to pay tax under the regular tax system may still be liable for tax under the Alternative Minimum Tax (AMT) laws. These laws create an equity in the system, requiring higher income individuals with certain deductions to pay tax. Without the AMT laws, these individuals would pay little or no tax while those with lower income levels and no deductions would pay higher tax.
