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Taxes

jasonxctf
in The Filibuster

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Interesting story.

 

http://www.tax.com/taxcom/taxblog.nsf/Perm...Z9?OpenDocument

 

Does anyone know how this tidbit is possible?

In 2008 nearly 1 in every 200 high-income taxpayers paid no federal income tax, up from about 1 in 1,500 in 1998.

 

I don't get it. Especially with the AMT in place. Is it tax credits, not deductions that are eliminating paying any level of income tax?

I can think of at least one minor investment-related blip that happened in 2008 that would have allowed a lot of very wealthy people to claim very large year over year losses.
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