The U.S. IRS has released the draft Form 4626 – Alternative Minimum Tax—Corporations concerning Corporate Alternative Minimum Tax (CAMT), The Inflation Reduction Act introduced CAMT, which enforces a minimum tax of 15% on the adjusted financial statement income (AFSI) of major corporations for taxable years starting after 31 December 2022. CAMT is applicable for large organizations with an average annual financial statement income surpassing USD 1 billion. The U.S. IRS states there aren’t any changes to the new draft form and the final revision of the form.
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