Search Results for keywords:"Corporate Alternative Minimum Tax"

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Search Results: keywords:"Corporate Alternative Minimum Tax"

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  • 2024-29958 — Corporate Alternative Minimum Tax Applicable After 2022; Technical Correction
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    Type:Proposed Rule
    Citation:89 FR 104909
    Reading Time:about 34 minutes

    The Internal Revenue Service (IRS), along with the Treasury Department, issued a notice to correct errors in a proposed rule concerning the corporate alternative minimum tax (CAMT). This tax applies to the adjusted financial statement income of certain corporations for tax years starting after 2022. The document outlines specific corrections to previous regulatory proposals to ensure proper tax calculations and clarifications in tax rules. Comments on these updates are welcome until January 16, 2025.

    Simple Explanation

    The IRS and Treasury Department found some mistakes in their rules about a special tax for big companies and are fixing them, asking people to let them know what they think by January 16, 2025.

  • 2024-28217 — Corporate Alternative Minimum Tax Applicable After 2022
    Type:Proposed Rule
    Citation:89 FR 96143
    Reading Time:about 5 minutes

    The Internal Revenue Service (IRS) has extended the deadline for submitting comments on proposed regulations about the corporate alternative minimum tax. Originally due by December 12, 2024, comments are now accepted until January 16, 2025. However, the deadline to request to speak at a public hearing on the regulations remains December 12, 2024, and the hearing itself will still take place on January 16, 2025. Interested individuals can submit their comments electronically via the Federal eRulemaking Portal or by mail.

    Simple Explanation

    The IRS wants to hear what people think about new tax rules for big companies, and they've made more time for people to send in their thoughts. People have until January 16, 2025, to write in, and the discussion about it will happen on the same day.