Alternative Minimum Tax

The Alternative Minimum Tax ( ATM ) was created in 1969 to ensure all Americans, particularly those wit higher incomes who benefit from tax shelters, will pay at least some federal income tax.  Unfortunately, the income level of a wealthy person in 1969 is now the income of an average household.  According to Vanguard, there is a good chance that a household that makes $75,000 a year could be subject to the AMT.  Congress really needs to act to correct this policy of a past era.

Alternative Minimum Tax
Wikipedia