Understanding the Accumulated Earnings Tax. Indicate whether the statements in Problem 6-39 are true or false regarding the accumulated earnings tax. tributions identified in Proviom for 2022 . tax dividends paid deduction for the following statements regarding 39 Understanding the PHC Tax. Indicate whether true or false. the personal holding company tax are true or false. if applicable. must be paid in addition to the b. An S corporation or partnership may be subjecters did not intend to use it as a c. A corporation that can prove that PHC tax. tax shelter is not subject to the PHC normally would not be subject to the PHC tax d. A publicly traded corporation normation that derives virtually all of its income from leasing operations e. A corporation that PHC tax, even though such income is normally consid. f. Federal income taxes reduce the base on which the PHC tax is assessed. ered passive. g. Long-term capital gains are not subject to the PHC tax