AICPA Comments on Request for Clarification on Form 4626, Part V

The AICPA is submitting a request to clarify the instructions of Form 4626, Alternative Minimum Tax—Corporations, to provide that corporations that have already determined themselves to be an “applicable corporation” for purposes of the corporate alternative minimum tax may skip Form 4626, Part V, Members of a Controlled Group Treated as a Single Employer and Foreign-Parented Multinational Group (FPMG) Members Taken Into Account in “Applicable Corporation” Determination.