Individual Income Tax Filing: Total Income Tax: Alternative Minimum Tax
This dataset tracks individual income tax filing: total income tax: alternative minimum tax over time.
Latest Value
4634301.00
Year-over-Year Change
49.67%
Date Range
1/1/1999 - 1/1/2016
Summary
The Alternative Minimum Tax (AMT) Total Income Tax trend measures the total income tax liability from the Alternative Minimum Tax, an additional tax system that affects higher-income taxpayers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The AMT Total Income Tax is a key metric for understanding the impact of the Alternative Minimum Tax, a parallel tax system that applies to taxpayers with high incomes and certain tax deductions. It provides insights into the overall tax burden on high-income individuals.
Methodology
The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Historical Context
This trend is closely monitored by policymakers, economists, and tax analysts to assess the effects of the AMT on tax revenue and taxpayer behavior.
Key Facts
- The AMT was originally introduced in 1969 to ensure high-income taxpayers paid a minimum amount of tax.
- The AMT applies a higher tax rate to certain types of income and limits certain deductions.
- Revenues from the AMT have fluctuated over time as a result of changes in tax laws and economic conditions.
FAQs
Q: What does this economic trend measure?
A: The Alternative Minimum Tax (AMT) Total Income Tax trend measures the total income tax liability from the AMT, an additional tax system that affects higher-income taxpayers.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the overall tax burden on high-income individuals, which is closely monitored by policymakers, economists, and tax analysts.
Q: How is this data collected or calculated?
A: The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and tax analysts to assess the effects of the AMT on tax revenue and taxpayer behavior.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of individual income tax return filings with the IRS.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Total Income Tax: Alternative Minimum Tax (AMTXCT), retrieved from FRED.