Bloomberg Tax
March 20, 2023, 6:53 PM

Treasury Mulls Relief for Book Income Tax Impact on Estimated Payments

Erin Slowey
Erin Slowey

The Treasury Department is debating whether to issue relief for estimated tax payments purposes for companies which could be subject to the corporate alternative minimum tax, an official said Monday.

The corporate alternative minimum tax, or CAMT, went into effect Jan. 1 and will be reflected in 2023 tax returns. Companies will begin making estimated tax payments in quarterly financial statements this year.

The decision to offer relief for companies making estimated tax payments has not been made yet but is something the agency is thinking about, said Brett York, deputy tax legislative counsel for Treasury at a Tax ...

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