With the alternative minimum tax still unpatched for this year and estimated to spread to an additional 28 million households next tax season unless Congress acts to avert the fiscal cliff, recently released statistics from the Internal Revenue Service reveal that even the patched AMT hit millions more households in 2010 than in 2009.
The IRS’s Fall 2012 Statistics of Income Bulletin, released last week, describes the trends in individual income tax returns in 2010. Among them was a sharp increase in tax returns subject to the AMT. The number of returns with AMT liability increased 4.0 million from 3.8 million in 2009, a 5 percent spike.
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