SECTION 1. OVERVIEW

This notice provides a limited waiver of the addition to tax under § 6655 of the Internal Revenue Code (Code) ¹ for underpayment of estimated income tax by a corporation to the extent the amount of any underpayment is attributable to the corporation’s corporate alternative minimum tax (CAMT) liability under § 55, as amended by § 10101 of Public Law 117-169, 136 Stat. 1818 (August 16, 2022), commonly referred to as the Inflation Reduction Act of 2022 (IRA).