A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Interim Guidance Simplifying Application of the Corporate Alternative Minimum Tax to Partnerships".

# Plain Language Summary This joint resolution is a congressional tool to block or "disapprove" an IRS rule about how a corporate alternative minimum tax applies to partnerships. The corporate alternative minimum tax is a federal tax designed to ensure large corporations pay a minimum level of tax. The IRS issued guidance on how this tax would work for partnerships (business structures with multiple owners). This resolution would reject that IRS guidance if passed, preventing the rule from taking effect. **Who It Affects:** Primarily partnerships and their owners, along with any businesses structured as partnerships that might be subject to the corporate alternative minimum tax.

The resolution could also indirectly affect tax planning and compliance for larger business entities. **Current Status:** The resolution is currently in committee, meaning it has been introduced but hasn't yet been debated or voted on by the full Congress. It was sponsored by Senator Ron Wyden (D-OR). Under the congressional disapproval process, if it passes both chambers and becomes law, it would overturn the IRS rule without requiring the agency to write a new one.