Indeed, it has increasingly come to apply to middle- and upper-income taxpayers who claim wholly legitimate deductions.
The alternative minimum tax is an anachronism that has long outlived its intended purpose, and kills legitimate deductions for people who work for a living.
For information on tax payments across state boundaries, read The Tax Foundation's work in this area The model assigns all taxpayers the full value of legitimate deductions and credits.
Even the losses incurred while gambling at the blackjack table or betting on the Super Bowl are legitimate deductions.
Darwin was an early critic of Extensionist theories, arguing that they went beyond the "legitimate deductions of science".
He says that the IRS summarily denies even clearly legitimate deductions associated with any businesses placed in a sham trust.
Some folks caught in the AMT unwittingly paid thousands more in total 2003 tax because they claimed legitimate deductions.
If you don't, or you allow the trust promoters to represent you, the IRS might disallow even legitimate deductions and try to double-tax your income both in the trust and on your personal return.
As part of the bill extending middle-class tax cuts, lawmakers decided to help some taxpayers who were being forced to shell out as much as $5,680 in extra 2003 AMT simply because they had claimed legitimate deductions in the regular tax.
Furthermore, the complexity in the code results in small businesses failing to take advantage of legitimate deductions and tax credits.
Pease and PEP are sneaky provisions that eliminate legitimate deductions or personal exemptions for certain people because it's easier for lawmakers to enact hidden rate hikes than obvious ones.
