Form 4626
Form 4626
A form that a
corporation files with the
IRS to compute the
alternative minimum tax that the corporation owes. A company must file Form 4626 if it is not a small company (since small companies are exempt from alternative minimum taxes), if its
profit before the
net operating loss deduction exceeds $40,000 (or some other stated amount), and/or if it claimed certain, stated
tax credits.
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References in periodicals archive
Note that
Form 4626, Alternative Minimum Tax--Corporations, for C corporations contains a specific line as well as specific instructions for this calculation.
Example 2 highlights a significant shortcoming in the instructions to Form 4626, Alternative Minimum Tax-Corporations (including environmental tax).
The Form 4626 instructions are very misleading in this respect.
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