Alternative Minimum Taxpayers by State: 2009, 2010, and Projections for 2012
In 2012, absent an increase of the AMT exemption amount, 32.4 million taxpayers will be subject to the AMT. At that time, whether a married taxpayer has itemized deductions for state and local taxes or miscellaneous deductions will become a much less important factor than it is at present in determining AMT coverage. This occurs because, whether they itemize their deductions or not, married taxpayers across a wide range of incomes will be subject to the AMT because personal exemptions are not allowed against the AMT. The President's FY2013 Budget proposes an alternative budget baseline where the AMT is permanently indexed for inflation based on 2011 parameters. The estimated revenue loss, assuming the tax cuts enacted from 2001 to 2003 are extended for middle income taxpayers, would be $1.9 trillion over the FY2013-FY2022 budget window. This report will be updated as legislative action warrants or as new data become available.
THE DOCUMENT INCLUDES FOLLOWING FILES:
|#||FILE NAME||Document Date||Order ID:||Number of Pages||PRICE|
|1||RS22083.pdf||Dec 04, 2012||RS22083||10||$19.95||ADD TO CART|