The Internal Revenue Service has revoked its determination that Little Kings and Queens Inc. qualifies as an organization described in sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1986. The revocation is effective January 1, 2020

Revocation of IRC 501(c)(3) Organizations for failure to meet the code section requirements. Contributions made to the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).

This notice provides interim guidance regarding the application of the corporate alternative minimum tax, as added to title 26 of the United States Code (Internal Revenue Code) by the Inflation Reduction Act of 2022. Specifically, this notice provides an optional simplified method for determining applicable corporation status under § 59(k) of the Internal Revenue Code. This notice also waives certain additions to tax under § 6655 with respect to a corporation’s CAMT liability under § 55.

This notice publishes the inflation adjustment factor and reference price for calendar year 2025 for the renewable electricity production credit under section 45 of the Internal Revenue Code. The 2025 inflation adjustment factor and reference price are used in determining the availability of the credit and apply to calendar year 2025 sales of kilowatt hours of electricity produced in the United States or a possession thereof from qualified energy resources. This notice also provides the credit amounts for calendar year 2025 under section 45.