question archive Which of the following is not an additional tax a taxpayer may have to pay? A) Alternative minimum tax
Which of the following is not an additional tax a taxpayer may have to pay? A) Alternative minimum tax
Subject:BusinessPrice:2.87 Bought7
Which of the following is not an additional tax a taxpayer may have to pay?
A) Alternative minimum tax.
B) Self-employment tax.
C) Net investment income tax.
D) Excess wage tax.
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
Anwer is (A): Alternative minimum tax
Alternative minimum tax(AMT) is not an additional tax. It is a tax that will be collected at minimum from the tax payer. If normal tax is lower than the AMT, AMT has to be paid by tax payer. Therefore if AMT is more in any year,credit can be claimed in the future years for the difference in Excess of AMT over Normal tax. Therefore, there is no additional tax burden in case of AMT.
