Going Through the IRS's Long To-Do List for 2023
Talking Tax
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Is the Corporate Alternative Minimum Tax Ready?
We got the initial guidance on December 27th. It indicated that there were certain things like financial statement gains resulting from split-offs and other non-recognition transactions that won't be subject to KMT or won't count for determining income subject to K MT. I think it addressed some of these really urgent questions that companies and taxpayers and their tax preparers had on day one. This is an important political issue because as some of you may have noticed, President Biden just tweeted this out recently.
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