US: IRS and Treasury extend consultation deadline for proposed CAMT regulations

04 December, 2024

The US Treasury Department and Internal Revenue Service (IRS) have announced an extension for submitting comments on the proposed regulations (REG-112129-23) concerning corporate alternative minimum tax (CAMT) on 4 December 2024. Initially published in the Federal Register on 13 September 2024, the comment deadline has been extended from 12 December 2024 to 16 January 2025.

The proposed regulations relate to the corporate alternative minimum tax, which is imposed on the adjusted financial statement income of certain corporations for applicable taxable years beginning after 2022.

Earlier, the IRS, in the release (IR-2024-235) on 12 September 2024, proposed regulations for the Corporate Alternative Minimum Tax (CAMT).

The deadline is set for 16 January 2025 to submit speaker requests and topic outlines, and 12 December 2024 for the public hearing. The hearing will be canceled unless outlines are received.

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