IRS Bulletin 2025-34 covers CAMT guidance for corporations with partnership investments and updates excise tax rules by adding 21 chemical substances under §4672.
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The Internal Revenue Bulletin (IRB) is the authoritative instrument for announcing official rulings and procedures of the IRS and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest.
ADMINISTRATIVE, INCOME TAX
Notice 2025-28, page 316.
This Notice informs taxpayers of the intention of the Department of the Treasury and the Internal Revenue Service to partially withdraw proposed regulations and issue revised proposed regulations regarding the application of the Corporate Alternative Minimum Tax (CAMT) to applicable corporations with financial statement income (FSI) attributable to investments in partnerships. In addition, the notice provides interim guidance primarily on simplified methods to determine an applicable corporation’s adjusted financial statement income (AFSI) with respect to an investment in a partnership, reporting by partnerships of information needed to compute ASFI, and rules for partnership contributions and distributions.
EXCISE TAX
Notice 2025-41, page 325.
This Notice of Determinations adds twenty-one chemical substances to the list of taxable substances under § 4672 subject to the tax imposed by § 4671. This Notice also modifies Notice 2021-66, 2021-52 I.R.B. 901, by correcting the spelling of sodium nitrilotriacetate monohydrate and by prescribing a tax rate for sodium nitrilotriacetate monohydrate.