The AICPA has called on the IRS and Treasury to provide clearer guidance on the application of the corporate alternative minimum tax (CAMT) to partnerships and their partners.
Saying the current rules are complex and create confusion and extra work for businesses, the AICPA submitted comments that request guidance and provide recommendations regarding the application of IRS Notice 2025-28 to partnerships and corporate alternative minimum tax entity partners.
The AICPA said its recommendations aim to make the rules easier to understand and follow, reduce unnecessary paperwork and avoid double-counting or missing important tax items. See the recommendations.