AMT

The House and Senate have both passed tax bills cutting the rate that corporations pay. The lawmakers differ though on the details, including what to do with the corporate alternative minimum tax. The House bill repealed it, but after some last minute changes the Senate bill keeps the AMT in place and some businesses aren’t […]

So now we have two GOP tax plans that must now become one. Among the variations between the House and Senate bills is the individual alternative minimum tax. That’s the idea that there should be some minimum tax rate so the wealthy can’t deduct or exempt their way out of taxes entirely. Doing away with […]