Tax Policy:
Experience With the Corporate Alternative Minimum Tax
GGD-95-88: Published: Apr 3, 1995. Publicly Released: Apr 3, 1995.
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Pursuant to a congressional request, GAO provided information on the corporate alternative minimum tax (AMT), focusing on: (1) the corporations that paid AMT between 1987 and 1992; (2) whether AMT achieved its purpose; and (3) how AMT might affect corporate investment.
GAO found that: (1) AMT accelerated tax payments of $27.4 billion and corporations used credits totalling $5.8 billion from 1987 to 1992; (2) at the end of 1992, corporations had accumulated $21.6 billion in credits that would result in lower tax revenues in the future; (3) of the 2.1 million corporations subject to AMT, 2,000 large corporations paid 85 percent of all AMT in 1992; (4) the two AMT provisions that produced the largest increases in taxable income were the depreciation adjustment, used by 87 percent of all AMT payers, and the adjusted current earnings adjustment, used by 67 percent of all AMT payers; (5) manufacturing, transportation, and finance industries paid the most AMT; (6) AMT has achieved its objectives of making profitable corporations pay tax and causing corporations that report positive amounts of income in a particular year to pay some tax in that year; (7) the effects of AMT on corporate investment are unclear due to insufficient data; and (8) while AMT might reduce present cash flows, future cash flows may be enhanced as taxpayers recover AMT credits.
Jan 30, 2018
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Tax Fraud and Noncompliance:
IRS Can Strengthen Pre-refund Verification and Explore More UsesGAO-18-224: Published: Jan 30, 2018. Publicly Released: Jan 30, 2018.
Dec 20, 2017
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Tax Information Returns:
Shared Service Centers Generally Transmitted Federal Wage and Tax Data on Time for Tax Year 2016GAO-18-90R: Published: Nov 20, 2017. Publicly Released: Dec 20, 2017.
Dec 18, 2017
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Sales Taxes:
States Could Gain Revenue from Expanded Authority, but Businesses Are Likely to Experience Compliance CostsGAO-18-114: Published: Nov 16, 2017. Publicly Released: Dec 18, 2017.
Nov 30, 2017
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Tax Gap:
IRS Needs Specific Goals and Strategies for Improving ComplianceGAO-18-39: Published: Oct 31, 2017. Publicly Released: Nov 30, 2017.
Nov 28, 2017
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Identity Theft:
Improved Collaboration Could Increase Success of IRS Initiatives to Prevent Refund FraudGAO-18-20: Published: Nov 28, 2017. Publicly Released: Nov 28, 2017.
Sep 6, 2017
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Affordable Care Act:
IRS Should Mitigate Limitations of Data to Be Used for the Age and Gender Adjustment for the Tax on High-cost Health PlansGAO-17-661: Published: Sep 6, 2017. Publicly Released: Sep 6, 2017.
May 18, 2017
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Employment Taxes:
Timely Use of National Research Program Results Would Help IRS Improve Compliance and Tax Gap EstimatesGAO-17-371: Published: Apr 18, 2017. Publicly Released: May 18, 2017.
May 17, 2017
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Management Report:
Improvements Are Needed to Enhance the Internal Revenue Service's Internal Control over Financial ReportingGAO-17-454R: Published: May 17, 2017. Publicly Released: May 17, 2017.
Apr 27, 2017
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IRS Return Selection:
Improved Planning, Internal Controls, and Data Would Enhance Large Business Division Efforts to Implement New Compliance ApproachGAO-17-324: Published: Mar 28, 2017. Publicly Released: Apr 27, 2017.
Apr 26, 2017
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2017 Filing Season:
New Wage Verification Process Holds Promise but IRS Faced Implementation ChallengesGAO-17-525T: Published: Apr 26, 2017. Publicly Released: Apr 26, 2017.
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