Just released:

The 2025 KPMG US CEO Outlook – learn what’s shaping CEO decision making

Get the report
Just released:

The 2025 KPMG US CEO Outlook – learn what’s shaping CEO decision making

Get the report
Relevant Results
Sorry, there are no results matching your search.
Autocomplete suggestions are available. Use up and down arrows to review and enter to select.
See more results

KPMG report: Additional CAMT interim guidance and favorable early reliance rules

Notices 2025-46 and 2025-49

Download PDF
Share
October 2, 2025

The IRS on September 30, 2025, released Notices 2025-46 and 2025-49 providing interim guidance on the application of the corporate alternative minimum tax (CAMT), and announcing the intent to partially withdraw proposed regulations issued in September 2024 (read TaxNewsFlash), and issue revised proposed regulations that include rules similar to the interim guidance provided in Notices 2025-46 and 2025-49, as well as the guidance provided in Notice 2025-27 (read TaxNewsFlash) and Notice 2025-28 (read TaxNewsFlash).

The interim CAMT guidance provided in Notices 2025-46 and 2025-49 responds to some of the taxpayer concerns raised in comment letters addressing issues with the 2024 proposed regulations. The notices illustrate that taxpayer comment letters on proposed CAMT guidance are being considered and reflected, which should encourage taxpayers to continue to participate in the comment process and contribute to the development of future CAMT Notices, reproposed CAMT regulations and eventual final CAMT regulations. Comments in response to Notice 2025-49 are requested by December 1, 2025; however, Notice 2025-49 indicates that Treasury will consider comments submitted after such date.

Read an October 2025 report prepared by KPMG LLP that provides analysis and observations of the notices.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.

KPMG. Make the Difference.


Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

© 2025 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's . Privacy Statement

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Search now!

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Submit

Office locations

View locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Learn more

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Contact

Headline