Who pays the alternative minimum tax
The alternative minimum tax, or AMT, typically hits around 5 million upper-middle-class families who have many children or other deductible expenses and live in high-cost states. For the 2012 tax year, however, the AMT is on track to affect an additional 26.4 million people — reaching deep into the middle class — because Congress has not adjusted the tax for the effects of inflation. Read related article.
Sources: Senate Finance Committee, Tax Policy Center. | The Washington Post.