Comment from American Council of Life Insurers
American Council of Life InsurersSupportTrade association
Summary: The American Council of Life Insurers (ACLI) submitted comments on proposed regulations regarding the corporate alternative minimum tax (CAMT). While they support several specific provisions as proposed, they advocate for the removal or modification of certain rules regarding purchase accounting and partnership reporting due to excessive complexity and administrative burdens.
ACLI's comments on proposed regulations providing guidance on the corporate alternative minimum tax (“CAMT”) imposed by section 55 of the Internal Revenue Code ("Code") for taxable years beginning after December 31, 2022 (REG-112129-23).