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The Alternative Minimum Tax
AMT liability exceeds regular tax liability (after applying appropriate credits). Taxpayers who potentially owe AMT must recalculate taxable income as defined by the AMT, apply ... AMT liability over the coming decade would disappear. About 5 million taxpayers would owe AMT in 2010, a reduction of more than 80 percent from the estimated 29 million taxpayers who would otherwise owe AMT ...
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