A more thorough explanation:

Definition: Tax-preference items are certain items that are lawfully deducted in arriving at taxable income for regular tax purposes but must be considered in calculating a taxpayer's alternative minimum tax.

For example, if a taxpayer has claimed deductions for certain types of investments or expenses, those deductions may be disallowed or limited when calculating the alternative minimum tax. This is because the alternative minimum tax is designed to ensure that high-income taxpayers pay a minimum amount of tax, regardless of the deductions they may be eligible for under regular tax rules.

Overall, taxes are monetary charges imposed by the government on persons, entities, transactions, or property to yield public revenue. This can include duties, imposts, and excises, and is not necessarily payable in money. Accrued tax refers to a tax that has been incurred but not yet paid or payable, while the accumulated-earnings tax is a penalty tax imposed on a corporation that has retained its earnings in an effort to avoid income-tax liability.

Admission tax is another example of a tax, which is imposed as part of the price of being admitted to a particular event. For instance, a concert or sporting event may include an admission tax as part of the ticket price.

These examples illustrate how taxes can take many different forms and can be imposed on a wide range of activities and entities. Understanding tax-preference items and other types of taxes is important for individuals and businesses to ensure compliance with tax laws and regulations.