Who Will and Won’t Pay the AMT, America’s Rich-Person Tax? This year’s alternative minimum tax is a shadow of its former self
The New AMT
The recent overhaul changed the alternative minimum tax so that millions of filers won’t owe it for 2018. Under prior law, AMT tax rates were above or close to regular tax rates for a wider range of income.
Note: Data are for married couples, filing jointly and taking the standard deduction. The spike in regular tax rate for prior law is from the personal exemption phase-out.