An alternative minimum tax (AMT) recalculates income tax after adding certain tax preference items back into adjusted gross income. (investopedia.com)
An alternative minimum tax (AMT) recalculates income tax after adding certain tax preference items back into adjusted gross income. (investopedia.com)
The purpose of the alternative minimum tax (AMT) is to restrict the tax benefits derived from various tax preference items, such as approved tax shelters, capital gains, investment tax credits and certain losses. (taxplanningguide.ca)