American Clean Energy and Security Act of 2009
An irs system created to ensure that high-income individuals, corporations, trusts, and estates pay a minimum amount of tax, regardless of deductions, credits, or exemptions. to arrive at amt, certain items (such as passive losses from tax shelters) are added back to adjusted gross income. if the alternative minimum tax is higher than the regular tax liability for the year, then you must make up the difference by paying the alternative minimum tax.
