Alternative Minimum Tax Paid by Millions of Taxpayers


In a recent income statistics bulletin, the IRS reported that the alternative minimum tax (AMT) affected a record 4.25 million tax returns and collected $30.48 billion in taxes during tax year 2011.Our Bergen County CPA office offers you insight to this.

The AMT was created years ago to ensure that high-income taxpayers could not escape all taxes through the use of deductions and credits. The recent report indicated that more than half of the $30 billion of AMT collected in 2011 was from individuals earning between $200,000 and $500,000. The number of taxpayers hit by the AMT has more than tripled since 2001.

We cater to Bergen County CPA tax preparation in New Jersey since we are a Bergen County accountant firm. For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at

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