IRS Gears Up for Corporate Minimum Tax With New Campaign

The IRS’s Large Business & International Division has begun a campaign to help make sure taxpayers comply with the new book-income minimum tax—likely anticipating enforcement and audits, tax professionals say.

The campaign on the corporate alternative minimum tax, or CAMT, was added to LB&I’s list of active campaigns Dec. 8. Its goals are to promote voluntary compliance, focus resources on the highest-risk issues regarding CAMT via consistent and thorough risk assessment, and ensure consistent development and resolution of CAMT issues, LB&I said on its website.

CAMT, which took effect at the start of 2023, requires large, profitable ...