Examlex
Match the following terms with the best definition given.
Alternative Minimum Tax
A parallel tax system designed to ensure that high-income individuals, corporations, estates, and trusts pay at least a minimum amount of tax.
Estimated Income Tax Payments
Payments made to the IRS on a quarterly basis by taxpayers who do not have their taxes withheld at source, to avoid underpayment penalties.
Fiscal Year-End
The end of a company's financial year, a critical date for accounting and financial reporting purposes.
Corporation
A legal entity that is separate and distinct from its owners, which can own assets, incur liabilities, and is taxed on its profits.
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