Sentence examples for minimum tax system from inspiring English sources

Under the alternative minimum tax system, many deductions are denied, including those for children, the taxpayers themselves and for state and local taxes.

Nor do they reflect the fact that politicians and economists from both parties agree that sooner rather than later the alternative minimum tax system must be overhauled, with a potential loss of hundreds of billions of dollars in revenue.

But the Cheneys were forced into the alternative minimum tax system, which the Treasury Department has estimated will take away part or all of the Bush tax cuts from 35 million households within the next few years.

At the moment many Americans have to complete their tax forms twice: once under the standard system, with its myriad deductions, credits and sundry other loopholes, and again under an "alternative minimum tax" (AMT) system which offers lower rates but very few deductions.

The couple were forced to figure their federal return using the alternative minimum tax, a system intended to keep high earners from avoiding taxes with extremely large deductions.

The tax reprieve postpones for one year only an expansion of the alternative minimum tax, a parallel tax system enacted in 1969 to prevent very wealthy investors from using deductions and tax shelters to avoid paying income tax altogether.

"But keep in mind that state and local taxes are not deductible for A.M.T. purposes," said Mr. Scharin, referring to the alternative minimum tax, a parallel tax system originally devised to ensure that the wealthy paid enough taxes, but that now ensnares many in the middle class.

One of the advocate's suggestions for streamlining the tax code was to repeal the alternative minimum tax, a parallel tax system intended to make sure rich Americans pay a fair amount in taxes, which is increasingly engulfing middle-class taxpayers.

But the biggest adjustment will deal with revenues from the alternative minimum tax, a parallel tax system enacted in 1969 to prevent the wealthy from using tax shelters to avoid paying any income tax.

Of course, all strategies need to be considered in light of the alternative minimum tax, a parallel tax system set up in 1969 to ensure that the wealthiest taxpayers paid their fair share of taxes.

All the assumptions below were based on a married couple filing jointly and without considering the alternative minimum tax, a parallel tax system aimed at a certain slice of high earners that excludes many deductions.