Income Taxes, Alternative Minimum Tax

What OBBBA Means for Individual Taxpayers: Key Takeaways

McCarter & English, LLP on 8/21/2025

On July 4, 2025, President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill or OBBBA, which includes many tax law changes impacting individuals. The changes cover a broad range of...more

Partnerships Gain CAMT Alternative

Cadwalader, Wickersham & Taft LLP on 8/20/2025

On July 29, the IRS issued interim guidance intended to reduce the compliance burdens associated with applying the corporate alternative minimum tax (“CAMT”) to partnerships. In so doing, they announced their intention to...more

SALT Alert: Final OBBBA Temporarily Expands SALT Cap and Revises AMT Phaseout

Venable LLP on 8/20/2025

The One Big Beautiful Bill Act (OBBBA or the Act), enacted in July 2025, introduces significant changes to the treatment of state and local tax (SALT) deduction and the alternative minimum tax (AMT). ...more

Section 1202 and QSBS: A Survey of States That Don’t Conform to the Federal Treatment

Frost Brown Todd on 8/14/2025

Section 1202 of the Internal Revenue Code provides a capital gains exclusion for certain qualified small business stock (QSBS) when a stockholder sells the same. This gain exclusion impacts venture-backed startups, angel...more

Income Tax Changes Warrant Consideration When Awarding Equity Incentives

Jackson Walker on 8/12/2025

Tax law is an interrelated web of complex rules, and changes in one rule can impact compensation strategies for management and executives even if the change is to individual income tax calculation rules. Executives should...more

One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part V – Qualified Small Business Stock Exclusion / Code Section...

Foster Garvey PC on 7/23/2025

In this fifth installment of my multi-part series on the One Big Beautiful Bill Act, Steve Nofziger and I discuss a provision of the Act that impacts certain business owners who are contemplating a sale of their shares, Code...more

One Big Beautiful Bill Locks in Tax Cuts, Tweaks SALT and Adds New Deductions

Miller Canfield on 7/9/2025

The One Big Beautiful Bill (OBBB) cements many individual tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) including permanent lower income tax rates and a doubled standard deduction. The bill passed on July 3 and...more

One Big Beautiful Bill Act: Key Tax Impacts for Businesses

Vinson & Elkins LLP on 7/9/2025

On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill Act (the “OBBBA”) into law. Congress passed the OBBBA through budget reconciliation, a special legislative process that allows Congress to advance...more

Client Alert: The Senate’s Other Big Beautiful Bill – Notable Changes to the House Version

Whiteford on 6/30/2025

The House of Representatives previously passed H.R. 1-119th Congress (2025-2026), titled the “One, Big, Beautiful Bill Act” (the “Act”), a budget bill that, among other things, addresses sunsetting provisions of the Tax Cuts...more

Countdown to Tax Changes: Navigating Budget Reconciliation 2025

Lippes Mathias LLP on 3/19/2025

As the clock ticks down to the end of 2025, the impending sunset of key provisions of the Tax Cuts and Jobs Act (“TCJA”) looms large, threatening tax hikes for millions of Americans. With Congress at a crossroads, the...more

How Often to Review Your Trust and Estate Plan

Allen Barron, Inc. on 2/26/2025

How often should you review your trust and estate plan? Is there a regular cycle to these reviews, or should they be driven by significant events in your life or the lives of your beneficiaries and executor or trustee? How...more

The Corporate AMT’s Crypto Problem Poses Constitutional Hazards

Latham & Watkins LLP on 1/16/2025

Under recent accounting rule changes, unrealized crypto gains must generally be reported on income statements, but questions arise about the alignment of the new Corporate Alternative Minimum Tax with constitutional tax...more

CAMT Claus Is Staying In Town?

Vinson & Elkins LLP on 12/19/2024

Lawmakers have been making their lists and checking them twice, and soon we will find out who’s been naughty or nice. However, taxpayers and their advisors wishing for a repeal of the corporate alternative minimum tax in 2025...more

Unlocking the Power of Equity-Based Incentive Compensation: An Overview of Incentive Stock Options (ISOs)

Foley & Lardner LLP on 8/28/2024

This article is the third in our series on equity-based compensation intended to assist employers with answering a common question: What type of equity compensation award is best for our company and our employees?...more

Mixed Opinions on Penalty Relief for Corporate AMT Taxpayers

Cadwalader, Wickersham & Taft LLP on 5/29/2024

On April 15, the IRS released Notice 2024-33 (the “Notice”), offering limited relief from tax penalties for underpaying estimated income taxes arising from a corporation’s alternative minimum tax (“AMT”). The AMT imposes a...more

Budget fédéral 2024 : Présentation de certaines mesures fiscales

Blake, Cassels & Graydon LLP on 4/25/2024

Le 16 avril 2024 (le « jour du Budget »), le gouvernement du Canada a présenté son budget fédéral de 2024 (le « Budget 2024 »). Bien que le principal élément du Budget 2024 soit une proposition visant à faire passer le taux...more

2024 Federal Budget: Selected Tax Measures

Blake, Cassels & Graydon LLP on 4/22/2024

On April 16, 2024 (Budget Day), the Government of Canada released its 2024 federal budget (Budget 2024). While the biggest headline item in Budget 2024 is a proposal to increase the capital gains inclusion rate from one-half...more

CAMT round three: The IRS and Treasury release third round of substantive CAMT guidance

Eversheds Sutherland (US) LLP on 9/22/2023

On September 12, 2023, the Internal Revenue Service (IRS) and Department of the Treasury (Treasury) released a third substantive piece of guidance, Notice 2023-64 (Notice) clarifying the application of the new corporate...more

The Alternative Minimum Tax Goes Mainstream

Bennett Jones LLP on 4/17/2023

The 2023 Budget proposes material changes to the alternative minimum tax (AMT) regime which, as discussed below, could result in significant increases to taxes on capital gains (i.e.,5-6 percentage points). Although...more

Budget fédéral 2023 : Présentation de certaines mesures fiscales

Blake, Cassels & Graydon LLP on 4/4/2023

Le 28 mars 2023 (le « jour du Budget »), la ministre des Finances du Canada a présenté le budget fédéral de 2023 (le « Budget 2023 »). Même si certains avaient prédit que le programme législatif chargé du ministère des...more

Notice 2023-7 Provides Initial Guidance Regarding the Corporate Alternative Minimum Tax

Cadwalader, Wickersham & Taft LLP on 1/31/2023

On December 27, 2022, Treasury issued Notice 2023-7, which provides guidance regarding the new Corporate Alternative Minimum Tax (“CAMT”) that taxpayers can rely on until Treasury publishes additional guidance. As mentioned...more

[Hybrid Event] The New Corporate AMT and Attorney/Client Privilege: Why Your Attorney Should Hire Your Accountant - January 12th,...

Vinson & Elkins LLP on 12/29/2022

The new corporate alternative minimum tax (“CAMT”) generally applies to corporations with 3-year average “book” income in excess of $1 billion. Thus whether a corporation owes CAMT may depend on positions taken under GAAP....more

Income Taxes › Alternative Minimum Tax