IRS notice on CAMT compliance and estimated tax penalty relief
The IRS has issued Notice 2025-27, providing significant interim guidance on the application of the corporate alternative minimum tax (CAMT).
Accounting Methods Spotlight Q2 2024
June 2024
This quarter’s Accounting Methods Spotlight newsletter features:
- Regulations proposed on interest capitalization involving property upgrades
- Limited waivers provide relief for CAMT estimated tax penalties
- Section 179D commercial building reference standard updated
- IRS provides 2024 low-income community credit bonus procedures and category reservations
- Initial guidance issued on clean fuel production credit
- List of areas eligible for energy tax credit bonus is updated
- IRS provides inflation adjustment for carbon sequestration credit
- Energy efficiency rebates treated as taxable income for businesses, not homeowners
- Tax Court affirmed by Ninth Circuit on revenue recognition under Section 451
- User fee for nonautomatic accounting method changes clarified
- New practice unit released on valuation of inventory
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Illinois budget includes income, sales, and excise tax revisions
Budget-related tax legislation passed by the Illinois General Assembly on June 1 includes significant tax changes.
H.R. 1 heads to the Senate: Key proposals for family offices and high net worth individuals
Key proposals for family offices and high net worth individuals in H.R. 1
Impact of House passed legislation on health industries organizations
Summary of the impact of House passed legislation on the pharmaceutical, life sciences, medtech and health services sectors including PwC key observations.
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