The Alternative Minimum Tax originally took effect in 1970 as a separate tax system built around the notion that high-income individuals should pay a minimum amount of tax, even if they qualify for tax benefits that would otherwise allow them to pay less.[1]  For most of you, the 2009 tax season has come and gone and you may have already had to deal with the AMT nightmare. But for those who have yet to pay 2009 taxes, the Alternative Minimum Tax may still be waiting for you.    For most of you, the 2009 tax season has come and gone and you may have already had to deal with the AMT nightmare. But for those who have yet to pay 2009 taxes, the Alternative Minimum Tax may still be waiting for you. 

In order to ensure that certain taxpayers who benefit from regular tax deductions and credits ...