ALTERNATIVE MINIMUM TAX Definition

Bookmark and Share

ALTERNATIVE MINIMUM TAX (AMT) is an alternative tax which includes certain tax preference items that are added back into adjusted gross income. If higher than the regular tax, then the regular tax plus the amount by which AMT exceeds the regular tax is paid.

Learn new Accounting Terms

INTEGRITY is consistent adherence to an ethical code. If client management lacks integrity the auditor must be more skeptical than usual.

PRINCIPAL AUDITOR is the auditor responsible for the greater portion of financial statements. The principal auditor may assume responsibility for the work of other auditors or divide responsibility with the other auditors.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.