In 2022, Congress reintroduced a corporate alternative minimum tax (CAMT) as part of the Inflation Reduction Act. The intent? Address the long-standing concern that large, profitable corporations often pay little to no federal taxes. Yet in a new paper, Elena Patel describes how the new CAMT is unlikely to fix that problem. "While CAMT policies aim to ensure that these corporations contribute something, they have not fixed the underlying reasons why companies pay so little in the first place," Patel writes. Read more:
Brookings Economic Studies’ Post
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Introduced in 2017, the base erosion and abuse tax (BEAT) provides an alternate corporate minimum tax strategy with a lowered rate and base. Learn more about the impact corporate tax attributes in the 2024 publication by A&M's Lee Zimet. Dive into the details on pages 19-31 here: https://okt.to/txDVkL #federaltax #corporatetax
2024 Limitations on Corporate Tax Attributes: An Analysis of Section 382 And Related Provisions
alvarezandmarsal.com
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In his latest Business Post column, Tom Maguire discusses the benefits of simplifying our tax code. Read more: https://deloi.tt/3V6sA5X #DeloitteTax
Ireland is in good shape | Deloitte Ireland
deloitte.com
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🚨 New regulations 🚨 The Treasury Department has proposed rules for the Corporate Alternative Minimum Tax (CAMT), impacting large companies starting October 15. Understand how these changes could affect your business and why consulting a tax advisor is crucial. Read our latest blog to get the details! 💼📈 https://hubs.ly/Q02PSqMm0 #TaxAdvisory #CAMT #CorporateTax #TaxCompliance
Understanding the New Corporate Alternative Minimum Tax: What Large Companies Need to Know | Tonneson + Co
https://tonneson.com
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Results of a Survey Measuring Business Tax Compliance Costs https://bit.ly/3XQFLJv
Results of a Survey Measuring Business Tax Compliance Costs
https://taxfoundation.org
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Interesting analysis following a survey of business tax compliance costs. https://lnkd.in/dbDbxEDR
Results of a Survey Measuring Business Tax Compliance Costs
https://taxfoundation.org
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In their article with @Bloomberg Tax, my @Crowe colleagues @Sowmya Varadharajan and @Michael Santoro discuss the current state #TransferPricing landscape and how companies can stay compliant. https://bit.ly/4fe3p8Q
State Transfer Pricing Cases Show Importance of Documentation
news.bloombergtax.com
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In their article with @Bloomberg Tax, my @Crowe colleagues @Sowmya Varadharajan and @Michael Santoro discuss the current state #TransferPricing landscape and how companies can stay compliant. https://bit.ly/4fe3p8Q
State Transfer Pricing Cases Show Importance of Documentation
news.bloombergtax.com
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The Internal Revenue Service is targeting the use of basis shifting between related parties as a way for partnerships to avoid paying taxes, setting up a new unit within the Office of Chief Counsel to develop guidance aimed at closing tax loopholes. #irs #irsupdates #accountingfirms #cpa
IRS cracks down on basis shifting by partnerships
accountingtoday.com
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The base erosion and abuse tax (BEAT) was introduced in 2017 under the Tax Cuts and Jobs Act, offering a different corporate minimum tax approach with an base and reduced rate. In the 2024 release "Limitations On Corporate Tax Attributes: An Analysis Of Section 382 And Related Provisions," A&M's Lee Zimet explains the influence of BEAT on corporate tax attributes like net operating losses and specific credits. Further details on pages 19-31. https://okt.to/7VsuAk #federaltax #corporatetax
2024 Limitations on Corporate Tax Attributes: An Analysis of Section 382 And Related Provisions
alvarezandmarsal.com
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New tax regulations pose challenges for the steel industry The Amendments to Tax Laws and Certain Laws and Decree No. 375 has been published in the Official Gazette. This law has further exacerbated the challenges facing the steel industry, which is already struggling. According to the published provisions, corporate income tax, previously levied solely on the company's profits, will now be calculated based on the net corporate income earned by taxpayers within an accounting period. Net corporate income is determined in accordance with the provisions of the Income Tax Law concerning commercial profits. All profits and revenues earned by corporations, regardless of which income element they fall under in the Income Tax Law, are considered "corporate income" as a whole.
New tax regulations pose challenges for the steel industry
steelradar.com
