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What is the alternative minimum tax amt

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Reference no: EM131807899

What is the Alternative Minimum Tax (AMT)?

Why is an individual required to pay the larger of the regular tax or AMT?

Is there any recovery of AMT tax in later years?

If so, is there any time limit on use of the AMT tax credits?

Some members of Congress have advocated eliminating the AMT tax. Why are they opposed to the tax? Should it be eliminated?

Reference no: EM131807899

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