Updated instructions raise questions and may provide tea leaves with respect to the CAMT proposed regulation package expected later this year
The IRS on April 9, 2024, provided a post-release change聽. The updated instructions add to corporations鈥� and partnerships鈥� compliance burdens in an already challenging compliance year and indicate that partners (both corporations who are partners and upper-tier partnerships with indirect or direct corporate partners) will be required to request needed corporate alternative minimum tax (CAMT) information and to maintain such CAMT information (as well as the request itself) in the partner鈥檚 books and records.
These updated instructions raise several questions and may provide tea leaves with respect to the CAMT proposed regulation package expected later this year.聽
Read an聽April 2024 report聽prepared by 乐鱼（Leyu）体育官网 LLP that discusses the recent changes to the instructions for Schedule K-1.