How Will The AMT Affect Taxpayers Over The Next Few Years?

The 2017 Tax Cuts and Jobs Act kept the individual AMT (Alternative Minimum Tax) on the books, but it reduced its impact until the end of 2025.  The 2017 law raised the AMT exemption amounts.  It also greatly increased the phaseout zones for the AMT exemptions.  This 2017 legislation resulted in far fewer taxpayers paying the AMT.  Unless Congress acts, the AMT rules will revert to those in place in 2017.  We can expect for some sort of AMT relief extension to be part of any new tax legislation.