The American Institute of Certified Public Accountants (AICPA) has asked the Treasury and Internal Revenue Service (IRS) to simplify and clarify the rules of the Corporate Alternative Minimum Tax (CAMT), stating that amendments made since 2022 have led to unnecessary compliance work and possible double counting. The CAMT, designed to ensure profitable corporations pay a minimum amount of tax, has been complicated by changes due to complaints, leading the AICPA to call for clearer rules and practices to limit the need for businesses to constantly adapt their tax models.
Corporate tax teams have spent the past few years doing something they generally hate: building expensive models around rules that keep moving. The Corporate Alternative Minimum Tax, or CAMT, began with a fairly straightforward policy pitch. Congress want...
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