Publication Year

2015

Keywords

Taxes, Income, Tax code

Disciplines

Accounting

Abstract

The individual alternative minimum tax, commonly referred to as the AMT, remained relatively unchanged between its creation by Congress in 1969 until 2012. While the recent amendments to the tax were meant to prevent the tax from reaching individuals for whom it was never intended, the theoretical improvements may not be enough. The tax originally meant to only capture “high-income” taxpayers who were previously able to avoid paying income taxes, it has expanded its reach over the years to include a variety of taxpayers outside of this original intention. This paper examines the structure of the tax, and the items responsible for this tax’s increasing reach as well as the economic implications on taxpayers and the overall economy.

Department 1 Awarding Honors Status

Accounting

Creative Commons License

Creative Commons Attribution-Noncommercial 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License

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Accounting Commons

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