Treasury and IRS Revise Corporate AMT Proposed Regulations
The U.S. Department of the Treasury and the IRS recently announced that they have partially withdrawn proposed regulations and are issuing revised proposed regulations regarding the application of the Corporate Alternative Minimum Tax.
Outlined in Notice 2025-28, the revisions will affect applicable corporations with financial statement income attributable to investments in partnerships.
The new notice provides interim guidance primarily on simplified methods to determine a corporation's adjusted financial statement income with respect to an investment in a partnership, reporting by partnerships of information needed to compute ASFI, and rules for partnership contributions and distributions.