Updated draft CAMT form
Three additional section 56A(c) adjustments
Three additional section 56A(c) adjustments
The IRS published an updated 2023 Draft Form 4626, Alternative Minimum Tax - Corporations [PDF 399 KB] for the new corporate alternative minimum tax (CAMT) created by H.R. 5376 (commonly called the “Inflation Reduction Act” (IRA)).
The IRS released an initial 2023 Draft Form 4626 along with 2023 Draft Form 1120, U.S. Corporation Income Tax Return [PDF 404 KB], in August 2023 without accompanying instructions. Read TaxNewsFlash
The updated form includes three additional section 56A(c) adjustments:
- Covered transactions
- Adjustments related to bankruptcy and insolvency
- Certain insurance company adjustments
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