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The Internal Revenue Service issued guidance on the corporate alternative minimum tax in response to comments it received.The Inflation Reduction Act of 2022 created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with an average annual AFSI exceeding $1 billion.  The IRS and the Treasury Department issued a set of proposed regulations last September and technical corrections last December under the Biden administration. However, in June, under the Trump administration, the IRS and the Treasury partially…

As the saying goes, “All publicity is good publicity.”Friend CEO Avi Schiffman said the response to his company’s seven-figure ad buy for the New York City subway has been “entertaining” during Thursday’s episode of Alex Heath and Ellis Hamburger’s “Access” podcast.Friend is an AI companion in the form of a pendant necklace. The pendant listens to conversations unprompted and can respond through a related app on the user’s phone.Last month, Schiffman told AdWeek that Friend spent more than $1 million on the print ad campaign, which included over 11,000 subway car ads, over 1,000 platform posters, and 130 urban panels.New Yorkers…

The Internal Revenue Service was able to steer through this past tax season despite extensive staffing cuts, but next tax season could be a problem, according to a new report.The report, released Wednesday by the Treasury Inspector General for Tax Administration, provided the final results of the 2025 filing season, with an overview of various facets of this past tax season and a warning about next tax season.”The 2025 tax filing season was successful with several key improvements,” said the report. “For example, the IRS processed more tax returns compared to last filing season and exceeded its 85 percent level…

WASHINGTON, D.C. – JUNE 20: An exterior view of the Supreme Court on June 20, 2024 in Washington, D.C. The Supreme Court is about to issue rulings on a variety of high profile cases dealing with abortion rights, gun rights, and former President Donald Trump’s immunity claim, putting the court at the center of many hot political topics during an election year. (Photo by Andrew Harnik/Getty Images) Andrew Harnik/Getty Images hide caption toggle caption Andrew Harnik/Getty Images The Supreme Court waded Friday back into gun-rights in a case that tests the constitutionality of a Hawaii law that restricts where gun…

OpenAI CEO Sam Altman is already thinking about his next gig.His next move isn’t another AI startup or a moonshot tech venture, however, it’s something surprisingly grounded.Altman wants to become a farmer.”I think there will come a time when AI can be a much better CEO of OpenAI than me, and I will be nothing but enthusiastic the day that happens,” he told Axel Springer CEO Mathias Döpfner in an interview this week.At the top of the list is tending to his farm.”I have a farm that I live some of the time and I really love it,” he said.…

2025-10-03T15:52:52Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. SmartAsset determined the income needed to be in the top 1% in each US state. In 2025, the top 1% comprises about 1.5 million households. On average, it takes an annual income of $731,492 to be in the top 1% across states. Have you ever wondered how much money…

The White House is sending about one-third of its employees home during the government shutdown, but all DOGE staffers are staying on the job.A shutdown occurs when government funding runs out. When that happens, federal agencies to “furlough” non-essential employees, temporarily suspending them from their jobs until the shutdown is over.According to the Executive Office of the President’s shutdown plan, the White House is furloughing 554 out of 1,733 total staff, accounting for a little less than a third of all staff.The plan shows that of the 45 DOGE staff employed by the White House, none are being furloughed. The…

The American Institute of CPAs is urging the federal government to keep all Internal Revenue Service employees working for the duration of the shutdown, pointing to the approaching Oct. 15 deadline for filing C corporation tax returns and for individuals who requested a six-month extension back in April. On Monday, the Treasury Department posted a contingency plan for the IRS in the event of a lapse in appropriations, drawing on funding from the Inflation Reduction Act of 2022 to keep all employees working. On Friday, the AICPA renewed its call to allow 100% of IRS employees to work for the duration…

DETROIT – Tesla and General Motors are leading the U.S. automotive industry this year in record domestic sales of all-electric vehicles, as consumers hurried to buy EVs before up to $7,500 in federal incentives for each purchase ended in September.New data provided to CNBC from Motor Intelligence shows U.S. sales of EVs, excluding hybrids, topped 1 million units through the first nine months of the year and set a new quarterly record of more than 438,000 units sold during the third quarter — achieving market share of 10.5% for the period.That record market share is up from 7.4% during the…

Goldman Sachs’s top executive is feeling good about markets, with some important caveats.David Solomon, the bank’s CEO, struck an upbeat tone when speaking about stocks and the US economy at Italian Tech Week on Friday. Despite some risks on his radar, the CEO of the investment bank said he was generally unbothered about the state of markets, even as concerns swell about a potential stock market bubble and a slowing economy. “I sleep very well and I’m not going to bed every night worried about what will happen next,” Solomon said, speaking to Bloomberg at the conference.Yet, while his long-term…