Corporations subject to CAMT must file Form 2220 to qualify for estimated tax penalty relief

Type
:
Obligation
Tax Area
:
Corporate Income Tax
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Aug
,
2024
Docxster’s Summary

The IRS has announced that corporations subject to the corporate alternative minimum tax (CAMT) must file Form 2220 in order to qualify for estimated tax penalty relief. This requirement applies to corporations with a tax year beginning after December 31, 2017. The relief is intended to help corporations avoid underpayment penalties due to changes in the tax law.

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Source :
KPMG
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