Will You Pay the AMT? Despite recent tax-law changes, many Americans are expected to pay the AMT this year. Share | Related Content The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. What Is a 1035 Exchange? 1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability. Tax Management Strategies Learn more about taxes, tax-favored investing, and tax strategies.