After the tax law changes, millions of households avoided the AMT hit last year
Millions of households sidestepped the hated alternative minimum tax in 2018. You have the Tax Cuts and Jobs Act to thank for it.
About 5 million households were subject to the AMT in the 2017 tax year, according to the IRS. That number fell to about 150,000 the following year, according to the agency’s analysis of returns processed through Nov. 21, 2019.
The AMT is a levy that applies to…