The continuing creep of the Alternative Minimum Tax (AMT) is threatening to impact tens of millions of Americans in 2007 - a fact that will push it to the forefront of tax policy issues.
In 1995, 414,000 wealthy tax payers paid the Alternative Minimum Tax (AMT), and in 2001, that number grew to 1.3 million. Unless Congress acts, 23.4 million Americans are expected to be snagged by this "stealth tax" in 2007, which was originally intended to affect only 20,000 wealthy taxpayers.