IRS Form: Corporate Alternative Minimum Tax Credit (IRC §53)

Form 8827, Credit for Prior Year Minimum Tax—Corporations, released November 28 with changes made to reflect the enactment of the 2017 tax act, Pub. L. No. 115-97. The law allows the prior year minimum tax credit to offset the taxpayer’s regular tax liability for any tax year. For tax years beginning after 2017 and before 2022, the prior year minimum tax credit is refundable in an amount equal to 50% (100% for tax years beginning in 2021) of the excess of the credit for the tax year over the amount of the credit allowable for the year ...