Normally, when you see the words "alternative minimum tax," they are located near words such as "reform," "dreaded" and "outdated."

The widely loathed levy -- created some 35 years ago to snag rich people who tried to dodge paying federal income taxes -- has been at the top of many CPAs' wish lists for tax reform for years, and has gained the attention and hatred of many Americans as it has increasingly snared middle class taxpayers.

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