N-2024-47: Extended Relief from Certain Additions to Tax for Corporation?s Underpayment of Estimated Income Tax under Section 6655

Notice 2024-47 extends the relief provided in Notice 2024-33, which waived the estimated tax penalty imposed under ? 6655 (for a corporation?s failure to pay estimated income tax) to the extent attributable to the revised corporate alternative minimum tax (CAMT) under ? 55, but only with respect to an installment of estimated tax due on April 15, 2024, or May 15, 2024, with respect to a taxable year that began in 2024. The relief from the addition to tax under ? 6655 provided by Notice 2024-33 is extended to any installment of estimated tax by a corporate taxpayer with respect to a taxable year that began in 2024 that is due on or before August 15, 2024, to the extent attributable to the CAMT.?

Notice 2024-47 will be in IRB:? 2024-27, dated 07/01/2024.

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