103 research outputs found
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The Alternative Minimum Tax for Individuals: Legislative Initiatives and Their Revenue Effects
This report discusses legislative initiatives regarding the alternative minimum tax (AMT) for individuals, which was originally enacted to ensure that all taxpayers, especially high-income taxpayers, paid at least a minimum amount of federal taxes
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Marriage Penalty Tax Relief: The Gramm Amendment
This report provides a brief description of the amendment to the Tobacco Settlement bill, which is intended to provide marriage penalty tax relief for low to middle income taxpayers and discusses some associate issues
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The Alternative Minimum Tax for Individuals
This report provides a brief overview of the alternative minimum tax (AMT) for individuals, discusses the issues associated with the current system, and describes current legislation to amend the AMT. The report will be updated as legislative action warrants
Recommended from our members
The Alternative Minimum Tax for Individuals
This report provides a brief overview of the alternative minimum tax (AMT) for individuals, discusses the issues associated with the current system, and describes current legislation to amend the AMT. The report will be updated as legislative action warrants
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Alternative Minimum Taxpayers by State
This report discusses the alternative minimum tax (AMT) with respect to the percentage of taxpayers who fall under the AMT as divided by state. The report also briefly addresses related legislation
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Flat-Rate Tax Proposals
In recent months there has been a growing congressional interest in the advantages and disadvantages of revamping our current tax system for a flat-rate tax method. Supporters of the new proposal argue that such a plan would promote productivity, simplify present IRS tax forms, save the public billions of dollars that presently go to tax-preparation professionals, and enhance Federal revenue by closing numerous tax loopholes and special deductions that are now enjoyed by relatively few. Opponents believe, however, that the tax burden under a flat-rate plan might fall more heavily upon the middle class and, unless exceptions were made, would hurt educational institutions and charities. Problems with popular tax deductions, such as home mortgage interest, would have to be addressed. This packet provides background materials which discuss the practical and theoretical issues that surround a flat-rate tax, including the probable redistribution of the tax burden under various rates and income bases
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