Book Minimum Tax, Stock Buyback Guidance Need More Time (1)

Tax pros waiting for regulations on the new book income minimum tax and the stock buyback tax will have to wait a little longer, Treasury Department and IRS officials said Tuesday, as the government continues to put the finishing touches on long-awaited rules.

The rules on the corporate alternative minimum tax, or CAMT, are “not imminent in a private sector sense,” said Brett York, deputy tax legislative counsel at Treasury, at the New York State Bar Association’s annual meeting. The behemoth package of CAMT rules, which previously had been expected this month, will be issued soon, York said, “but can’t ...