This paper examines the impact of the Alternative Minimum Tax on the weighted average marginal tax rates that apply to various components of taxable income. It also considers the impact of several AMT reform proposals on the number of AMT taxpayers, the total revenue collected from the AMT, and...

The law formerly known as the Tax Cuts and Jobs Act of 2017 created a 20% deduction for income from certain passthrough businesses. The deduction, under new section 199A, is broadly available for lower income taxpayers, but that greater availability is gradually phased out for higher income...