Assertion: taxpayer | /r/CapableOf | owe amt
Facets:
value: from 3% in 2017
type: TEMPORAL
Source sentences:
text: The Advocate noted that the AMT punishes taxpayers for having children or living in a high-tax state and that the complexity of the AMT leads to most taxpayers who owe AMT not realizing it until preparing their returns or being notified by the IRS.
text: The Tax Cuts and Jobs Act of 2017 (TCJA) reduced the fraction of taxpayers who owed the AMT from 3% in 2017 to 0.1% in 2018, including from 27% to 0.4% of those earning $200,000 to $500,000, from 61.9% to 2% of those earning $500,000 and $1,000,000.
text: For taxpayers who owe AMT, IRA (Individual Retirement Account)/Qualified plan contributions, charitable deductions and home mortgage interest (but not "hard money" refinancing interest) are especially valuable.