Why the Middle Class Is Still Getting Snared by the ‘Wealth Tax’
8th April 2015
The AMT is still alive and complicated. What lawmakers did was permanently tie the amount of income exempted from the AMT to inflation.
Those income levels, however, are still fairly low ($52,800 for singles this year; $82,100 for married couples filing jointly).
And the set of rules that governs what can and can’t be deducted under the AMT means it’s still hitting a fair number of people for whom it was never intended — those in the middle class and upper middle class.