N-2024-66: Relief from Certain Additions to Tax for Corporation’s Underpayment of Estimated Income Tax under Section 6655

Notice 2024-66 provides relief from the addition to tax under § 6655 for the underpayment of estimated tax by a corporation to the extent the amount of any underpayment is attributable to the revised corporate alternative minimum tax (CAMT) liability under § 55 for any Covered CAMT Year. A Covered CAMT Year is any taxable year that begins after December 31, 2023, and before January 1, 2025. The notice also incorporates the relief provided in Notice 2024-33, 2024-18 I.R.B. 959, and Notice 2024-47, 2024-27 I.R.B. 1, and obsoletes those notices.

Notice 2024-66 will be in IRB: 2024-40, dated 09/30/2024.

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