The Internal Revenue Service (IRS) recently announced a new payment option for taxpayers who are behind on their tax bill or who otherwise find themselves facing a large, unmanageable tax debt. According to the agency, taxpayers can now elect to have debit cards...
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The Alternative Minimum Tax: Its Purpose and Potential Drawbacks
With the recent release of President Trump's 2005 tax return, many millions of Americans were introduced to the Alternative Minimum Tax (AMT). In fact, of the $38.4 million Trump paid in taxes in 2005, $31 million came from the AMT. With the AMT in the news, this is a...