Treasury releases technical corrections for CAMT proposed regulations
Treasury and the IRS on December 23 released technical corrections to the proposed regulations on the corporate alternative minimum tax (CAMT).
September 2024
Vice President Kamala Harris and former President Donald Trump have laid out competing tax policy agendas since becoming their party’s nominees for the 2024 presidential election at the recent Democratic and Republican national party conventions.
The tax policy agendas being proposed by Harris and Trump are expected to be a top focus of the next Congress. The November 5 federal elections also will decide which party controls the US House of Representatives and the US Senate.
2025 will be a year for significant “must-pass” tax legislation with key 2017 Tax Cuts and Jobs Act (TCJA) individual provisions set to expire at the end of 2025 and several significant business tax provisions set to change. Failure to act would result in across-the-board tax increases on individual taxpayers and automatic increases in certain business taxes under current law.
Business leaders and individuals will need to evaluate the potential effect of the tax policies being proposed by Harris and Trump on US economic growth and opportunities for US households.
Treasury and the IRS on December 23 released technical corrections to the proposed regulations on the corporate alternative minimum tax (CAMT).
Final regulations under the Section 48 investment tax credit modify and clarify proposed regulations.
Beginning January 1, 2025, all corporations, financial institutions, individuals, trusts, and estates in Massachusetts must use a single-sales factor apportionment formula.
The Italian Ministry of Economy and Finance, on December 6, approved the Decree implementing the penalty protection regime for hybrid mismatch arrangements.