Introduction

KPMG Financial Reporting Podcast delivers fresh insights and perspectives around major accounting and financial reporting developments. In this episode, John Barbeggalo dives a little deeper into the corporate alternative minimum tax with two of my colleagues from KPMG. The AMT is designed to be a minimum tax so that profitable entities actually pay some base level of tax. It applies to taxpayers with a three-year average adjusted financial statement income or AFSI of over $1 billion.