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WHAT IS THE ALTERNATIVE MINIMUM TAX, AND HOW DOES IT WORK?
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Did you know that the United States internal revenue service created the alternative minimum tax (AMT) to balance taxation? You probably have not considered it, but you should calculate your tax twice per tax year. The reason is to determine if you should pay the alternative minimum tax, especially if you fall within the tax bracket of higher-income earners. 


The AMT ensures that every law-abiding individual pays a fair amount of taxes. As a result, certain tax deductions and tax breaks or tax credits are limited for the AMT to create a taxation balance. However, because the AMT is a different and hardly rampant type of tax, it is essential to understand what it is, how it works, and how it applies to you. Let us find out!


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WHAT IS THE ALTERNATIVE MINIMUM TAX, AND HOW DOES IT WORK?
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