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US IRS issues penalty relief for failure to pay remaining estimated CAMT installments for 2024

|Tax Alerts, Legislation & Policy, Gl ...|United States
United States

  • The penalty relief applies to any installment of estimated tax for 2024 tax years (e.g., installments due September 16, 2024, and December 15, 2024).
 

In Notice 2024-66, the IRS has waived the penalty under IRC Section 6655 for a corporation's failure to pay estimated tax installments attributable to its alternative minimum tax (CAMT) liability under IRC Section 55 for any tax year that begins…

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