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Alternative Minimum Tax
Term category: Stocks
In 10 words or less: A measure to ensure that everyone pays at least some tax.

Definition: The alternative minimum tax (AMT) is an initiative that adds certain tax preference items back into a person or company's adjusted gross income (AGI).

Advice: The IRS imposes an alternative minimum tax in order to ensure that wealthy individuals don't escape paying taxes by using tax shelters and other measures.

 

 

 

 

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