Alternative Minimum Taxation Sets Record
From Times Wire Reports
A record 1.3 million U.S. taxpayers were subject in 2000 to the alternative minimum tax, a method of calculating income taxes meant to ensure the wealthy pay at least some taxes, the Internal Revenue Service said.
The 28% jump in the number of AMT filers also saw a record in the amount of such taxes, to $9.6 billion from $6.48 billion. The data are for tax year 2000, from returns filed in 2001.
