The U.S. IRS has published the draft Form 4626 - Alternative Minimum Tax—Corporations. The Inflation Reduction Act created the Corporate Alternative Minimum Tax (CAMT), which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after 31 December 2022. The CAMT generally applies to large corporations with average annual financial statement income exceeding USD 1 billion.