Who pays the AMT?

Among the households that were subject to the AMT, there was a varying degree of influence based on income levels. For households earning between $200,000 and $500,000 annually, 0.3 percent were impacted, indicating a relatively low incidence rate within this income bracket.

As incomes increased, so did the proportion of households affected by the AMT. Among those earning between $500,000 and $1 million, the percentage of households impacted ROSE to 2.1 percent, marking a more significant presence of the tax within this higher income tier.

The most significant impact of the AMT was felt by households earning over $1 million annually. In this income bracket, 9.8 percent of households were affected by the tax, underscoring its greater relevance among the wealthiest segment of the population.

The differing levels of AMT incidence across income brackets highlight the progressive nature of the tax, with a higher burden falling on those with greater financial means. This is evident from the stark contrast between the 0.3 percent affected in the $200,000-$500,000 bracket and the 9.8 percent in the over $1 million bracket.

In 2022, the AMT (Alternative Minimum Tax) had a minimal impact on households in general, affecting just 0.1 percent of them. This reveals that the majority of households were not significantly affected by the tax measure.