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Steel Manufacturers Association, 7 Organizations Issue Letter to Commerce Secretary, U.S. Trade Representative Greer
WASHINGTON, Sept. 30 (TNSletter) -- The Steel Manufacturers Association issued the following letter with seven organizations to Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer:
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Here is the text of the letter:
September 28, 2026
The Honorable Howard Lutnick
Secretary
U.S. Department of Commerce
1401 Constitution Avenue NW
Washington, DC 20230
-
The Honorable Jamieson Greer
Ambassador
Office of the U.S. Trade Representative
600 17th Street NW
Washington, DC 20508
Dear Ambassador Greer and Secretary Lutnick,
The undersigned organizations, who represent
... Show Full Article
WASHINGTON, Sept. 30 (TNSletter) -- The Steel Manufacturers Association issued the following letter with seven organizations to Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer:
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Here is the text of the letter:
September 28, 2026
The Honorable Howard Lutnick
Secretary
U.S. Department of Commerce
1401 Constitution Avenue NW
Washington, DC 20230
-
The Honorable Jamieson Greer
Ambassador
Office of the U.S. Trade Representative
600 17th Street NW
Washington, DC 20508
Dear Ambassador Greer and Secretary Lutnick,
The undersigned organizations, who representthe vast majority of domestic steel production, appreciate the Administration's steadfast commitment to revitalizing the American steel industry. The Section 232 steel tariffs have provided the certainty domestic steelmakers need to make historic investments in the United States. Today, steelmakers have announced or are undertaking $47 billion in projects, supporting thousands of American jobs.
The steel tariffs are working. That is why we are writing to express serious concern about a sharp and unexpected surge in steel imports from South Korea, despite the strong tariff measures the Administration has put in place.
Since the Administration strengthened the Section 232 steel tariffs last year, steel imports from much of the world have declined significantly. Imports from South Korea, however, have surged. For example, in 2026, South Korean shipments of long products and pipe and tube products have increased dramatically, even though they are subject to the same 50 percent Section 232 tariff applied to steel imports from most other countries.
The increase in long products is particularly striking. South Korean long product imports, including rebar, reached a record 145,300 tons in July 2026, compared with just 36,400 tons in July 2025 and 22,100 tons in July 2024.1 Given the strength of the existing tariff measures, the scale and speed of this increase warrant immediate scrutiny.
Pipe and tube imports show a similarly concerning pattern. South Korean pipe and tube shipments reached 160,300 tons in July 2026 alone.2 At that pace, South Korea would be on track to ship more than one million tons annually. This surge confirms what the market has long known: South Korea's pipe industry is built on massive excess capacity and is overwhelmingly dependent on the U.S. market. The United States is its primary, and, for key products, nearly exclusive, export destination because South Korea lacks a meaningful domestic market capable of absorbing its oil country tubular goods (OCTG) and line pipe production if access to the U.S. market were curtailed.
Flat products have also increased at an alarming rate. In galvalume, which is classified as "carbon and alloy, all other metallic products", South Korea has exported over 50,000 tons in July and August and are at double their quota levels. Hot dipped galvanized sheet is at 20 percent above quota levels and hot rolled plate in coils at 50 percent above quota levels.
In light of these surges, we urge the Administration to take immediate action to strengthen the Section 232 measures with respect to steel imports from South Korea, including implementation of a tariff rate quota with a minimum 50 percent in-quota tariff as well as a heightened tariff for any import volume in excess of the quota. Any further delay in implementing such measures will allow imports from South Korea to continue to surge, at the direct expense of the domestic steel industry.
In addition, we respectfully request that the Office of the United States Trade Representative, the Department of Commerce and the U.S. Customs and Border Protection investigate the underlying causes of this import surge and use all appropriate trade enforcement tools to address any unfair or market-distorting trade practices that are identified.
The undersigned commend USTR and Commerce for their continued commitment to vigorous enforcement of U.S. trade and national security laws. Strong enforcement is essential to ensuring that the Administration's steel policies deliver their intended benefits for American steelmakers, workers, and communities.
We urge prompt attention to this matter and stand ready to provide any additional information that may assist your review.
Thank you for your consideration.
Steel Manufacturers Association
American Iron and Steel Institute
Committee on Pipe and Tube Imports
United States OCTG Manufacturers Association
American Line Pipe Producers Association
American Institute of Steel Construction
Alliance for American Manufacturing
United Steelworkers
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Original text and footnotes here: https://steel-media.s3.amazonaws.com/wp-content/uploads/2026/09/28134900/Korea-Letter-September-2026.pdf
News Release here: https://www.steel.org/2026/09/steel-industry-urges-administration-to-address-surge-of-steel-imports-from-south-korea/
[Category: Steel]
Pharmacy Coalition Commends CMS RFI on Medicare Part D Reasonable and Relevant Pharmacy Contracting Standards
ARLINGTON, Virginia, Sept. 30 -- The National Association of Chain Drug Stores posted the following news release:
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Pharmacy Coalition Commends CMS RFI on Medicare Part D Reasonable and Relevant Pharmacy Contracting Standards
September 29, 2026
A national coalition of pharmacy groups today issued the following statement on the Centers for Medicare & Medicaid Services' (CMS) RFI on Medicare Part D Reasonable and Relevant Pharmacy Contracting Standards -- which is part of the implementation of pharmacy benefit manager (PBM) reforms enacted in February 2026:
Our organizations welcome CMS's
... Show Full Article
ARLINGTON, Virginia, Sept. 30 -- The National Association of Chain Drug Stores posted the following news release:
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Pharmacy Coalition Commends CMS RFI on Medicare Part D Reasonable and Relevant Pharmacy Contracting Standards
September 29, 2026
A national coalition of pharmacy groups today issued the following statement on the Centers for Medicare & Medicaid Services' (CMS) RFI on Medicare Part D Reasonable and Relevant Pharmacy Contracting Standards -- which is part of the implementation of pharmacy benefit manager (PBM) reforms enacted in February 2026:
Our organizations welcome CMS'srelease of a thoughtful and comprehensive Request for Information (RFI) to inform the development and implementation of standards for reasonable and relevant Medicare Part D pharmacy contract terms and conditions. The RFI represents an important step toward translating Congress's bipartisan reforms into meaningful protections for pharmacies and Medicare beneficiaries.
Through detailed questions addressing the contracting practices and operational issues that matter most to pharmacies and the patients they serve, CMS has demonstrated its commitment to building a robust factual record and developing workable, transparent, and enforceable standards.
We commend CMS for engaging constructively with stakeholders throughout this process and look forward to providing a comprehensive response to the RFI.
Our coalition remains committed to working collaboratively with CMS to ensure these reforms strengthen pharmacy access and choice for Medicare beneficiaries.
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Original text here: https://www.nacds.org/pharmacy-coalition-commends-cms-rfi-on-medicare-part-d-reasonable-and-relevant-pharmacy-contracting-standards/
[Category: Business]
OSMA Endorses 2026 Child and Adolescent Vaccine Schedule Recommended by American Academy of Pediatrics
DUBLIN, Ohio, Sept. 30 -- The Ohio State Medical Association issued the following news:
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09/29/2026
OSMA Endorses 2026 Child & Adolescent Vaccine Schedule Recommended by American Academy of Pediatrics
As Ohio families begin a new school year and prepare for the upcoming influenza season, childhood immunization has taken on renewed importance. The resurgence of measles across the United States, including cases here in Ohio, offers a timely reminder of the important role vaccines continue to play in protecting children, families and communities from preventable disease.
Against this backdrop,
... Show Full Article
DUBLIN, Ohio, Sept. 30 -- The Ohio State Medical Association issued the following news:
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09/29/2026
OSMA Endorses 2026 Child & Adolescent Vaccine Schedule Recommended by American Academy of Pediatrics
As Ohio families begin a new school year and prepare for the upcoming influenza season, childhood immunization has taken on renewed importance. The resurgence of measles across the United States, including cases here in Ohio, offers a timely reminder of the important role vaccines continue to play in protecting children, families and communities from preventable disease.
Against this backdrop,the Ohio State Medical Association (OSMA) affirms and endorses the 2026 recommended childhood and adolescent immunization schedule published by the American Academy of Pediatrics (AAP). This position is consistent with policy adopted by the OSMA House of Delegates earlier this year supporting evidence-based immunization practices.
AAP routinely reviews and revises this schedule on an annual basis to ensure it reflects current evidence-based recommendations for the use of vaccines licensed by the U.S. Food and Drug Administration. In developing its recommendations, AAP uses a robust system to evaluate evidence, review vaccine safety data, and consider the epidemiology and impact of infectious diseases in the United States, as well as the ability of vaccines to prevent those diseases and their complications.
The 2026 AAP vaccine recommendations do not differ significantly from the 2025 AAP recommendations, but they do diverge from the schedule issued this year by the Centers for Disease Control and Prevention (CDC).
OSMA joins a broad coalition of national medical organizations supporting the 2026 AAP immunization schedule, which has also been formally endorsed by:
* American Academy of Family Physicians (AAFP)
* American College of Obstetricians and Gynecologists (ACOG)
* American Medical Association (AMA)
* Council of Medical Specialty Societies (CMSS)
* Infectious Diseases Society of America (IDSA)
* National Medical Association (NMA)
* Pediatric Infectious Diseases Society (PIDS)
* Society for Adolescent Health and Medicine (SAHM)
AAP also recently publicized its participation in an independent evidence review to inform specific recommendations for respiratory virus immunizations, alongside the AMA, the Vaccine Integrity Project, AAFP, ACOG and IDSA. The latest scientific evidence from this review found that immunizations against respiratory illnesses including influenza, respiratory syncytial virus (RSV), and COVID-19 continue to provide meaningful protection against severe illness, hospitalization and death. Researchers also found no new safety concerns in comparative studies during this review.
The importance of maintaining strong childhood immunization rates is particularly clear this year. As of September 17, more than 3,400 confirmed measles cases had been reported across the United States in 2026, including over 180 cases in Ohio. The resurgence of a disease that was declared eliminated in the United States in 2000 underscores the continuing importance of vaccination and access to credible, evidence-based guidance.
Moving forward, OSMA will continue to work with the Ohio Chapter of the American Academy of Pediatrics, the Ohio Department of Health and other interested parties to encourage Ohio schools to adhere to evidence-based best practices as they pertain to childhood and adolescent vaccines.
Ohio physicians remain an important and trusted resource for parents navigating decisions about their children's health. OSMA wants families to have access to the most credible scientific information available regarding vaccine recommendations and encourages parents with questions about vaccines to talk with their pediatrician or other primary care physician.
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Original text here: https://osma.org/aws/OSMA/pt/sd/news_article/636111/_PARENT/layout_details-news/false
[Category: Medical]
Minnesota Credit Union Network: Wings Credit Union Triples Hoops for Hunger Impact for Minnesota Lynx Playoff Run
ST. PAUL, Minnesota, Sept. 30 -- Wings Credit Union, a member company of the Minnesota Credit Union Network, issued the following news:
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Wings Credit Union triples Hoops for Hunger impact for Minnesota Lynx playoff run
9/29/2026
APPLE VALLEY, Minn. - As the Minnesota Lynx begin their playoff run Sunday, Sept. 27, Wings Credit Union is tripling the impact of its Hoops for Hunger program, increasing the credit union's donation from $20 in the regular season to $60 for every 3-point basket made by the Lynx throughout the playoffs.
"At Wings, we look for ways to create community impact through
... Show Full Article
ST. PAUL, Minnesota, Sept. 30 -- Wings Credit Union, a member company of the Minnesota Credit Union Network, issued the following news:
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Wings Credit Union triples Hoops for Hunger impact for Minnesota Lynx playoff run
9/29/2026
APPLE VALLEY, Minn. - As the Minnesota Lynx begin their playoff run Sunday, Sept. 27, Wings Credit Union is tripling the impact of its Hoops for Hunger program, increasing the credit union's donation from $20 in the regular season to $60 for every 3-point basket made by the Lynx throughout the playoffs.
"At Wings, we look for ways to create community impact throughevery partnership we have," said Sarah Manes, Wings' director of philanthropic engagement. "The Lynx have inspired fans all season long, and Hoops for Hunger gives us an opportunity to channel that energy into something meaningful for our neighbors. Tripling our donation for the playoffs is a way to celebrate this incredible team while helping more Minnesota families access the nutritious food they need."
Wings' playoff commitment builds on a successful inaugural season of Hoops for Hunger, a partnership between the credit union, Lynx, and The Food Group. Through the end of the regular season, Lynx players made 406 3-pointers, generating $8,120 in support for The Food Group.
The announcement also comes during another standout season for the Lynx, including a historic performance by guard Kayla McBride, who earlier this year set the WNBA record for most 3-pointers made in a single game.
"One of the things that makes Minnesota so special is how much people care about one another," said McBride. "Knowing that every 3-pointer we make in the playoffs is helping support families in our community adds another level of meaning to what we're doing on the court."
The Hoops for Hunger program reflects a shared commitment by Wings, the Lynx, and The Food Group to strengthen communities across Minnesota and support families experiencing food insecurity.
"With demand for food assistance at an all-time high, The Food Group is grateful to Wings Credit Union for 'tripling down' to fight hunger and share food with those who need it most," said Sophia Lenarz-Coy, The Food Group executive director. "With the support of partners like Wings, we can meet the rising need and help local families keep nutritious, culturally connected food on their tables."
For more information about Hoops for Hunger and Wings' partnership with the Lynx, visit WingsCU.com/Lynx.
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About Wings Credit Union
Wings Credit Union and Ent Credit Union united in a merger of equals on Jan. 1, 2026, creating a stronger, member-focused financial cooperative serving nearly 1 million members with approximately $20 billion in assets. Wings operates with dual headquarters in Apple Valley, Minn., and Colorado Springs, Colo. As a not-for-profit financial cooperative, Wings offers robust digital banking capabilities and a full suite of financial solutions, including more than 90 physical service centers across several states. Wings is known for exceptional member service and invests in the communities it serves through philanthropy, education, and programs that support long-term financial well-being. Wings was recognized by Newsweek in its America's Best Credit Unions 2026 list. Wings is an Equal Housing Lender and Equal Opportunity Lender, federally insured by NCUA. Learn more at WingsCU.com.
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Original text here: https://web.mncun.org/atlas/articles/13017
[Category: Financial Services]
CHPA Honors Julie Aker for Advancing Regulatory Science and Consumer Access
WASHINGTON, Sept. 30 -- The Consumer Healthcare Products Association issued the following news release:
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CHPA Honors Julie Aker for Advancing Regulatory Science and Consumer Access
Sep 29, 2026
(WASHINGTON, D.C.) -- The Consumer Healthcare Products Association (CHPA) is proud to announce that Julie Aker, former chief executive officer of Concentrics Research, is this year's recipient of the William Cooley Regulatory & Scientific Affairs Career Achievement Award, recognizing a career defined by scientific innovation, regulatory leadership, and extraordinary contributions to advancing Rx-to-OTC
... Show Full Article
WASHINGTON, Sept. 30 -- The Consumer Healthcare Products Association issued the following news release:
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CHPA Honors Julie Aker for Advancing Regulatory Science and Consumer Access
Sep 29, 2026
(WASHINGTON, D.C.) -- The Consumer Healthcare Products Association (CHPA) is proud to announce that Julie Aker, former chief executive officer of Concentrics Research, is this year's recipient of the William Cooley Regulatory & Scientific Affairs Career Achievement Award, recognizing a career defined by scientific innovation, regulatory leadership, and extraordinary contributions to advancing Rx-to-OTCswitches and consumer access to self-care.
Named in honor of longtime industry leader Dr. William Cooley, the award recognizes individuals whose careers have demonstrated outstanding contributions that have strengthened public health and advanced self-care through sustained and meaningful contributions.
Throughout her career, Aker has played a key role in advancing numerous prescription-to-OTC switches and shaping the consumer behavior research that supports them. Her work designing and conducting label comprehension, self-selection, and actual-use studies has helped advance the scientific frameworks used to assess whether consumers can safely and appropriately use OTC medicines. Respected across both industry and the U.S. Food and Drug Administration (FDA), Aker has long been a trusted and active leader within CHPA's Regulatory & Scientific Affairs community. Through her engagement with FDA and active involvement in CHPA committees, workshops, and conferences, she has helped members navigate evolving regulatory expectations and strengthen the scientific foundation for self-care products.
"Julie has been at the center of some of the most important OTC switches of the past several decades, helping shape the science that gives regulators confidence and consumers greater access to self-care products," said CHPA Senior Vice President of Regulatory and Scientific Affairs Dr. Scott Furness. "Her expertise and credibility have made her a trusted voice with both industry and FDA, and she has never hesitated to share her knowledge to help others succeed. Julie's impact can be seen across decades of OTC innovation that has expanded consumers' ability to manage their health, and CHPA is proud to recognize her with this well-deserved honor."
The 2026 William Cooley Regulatory & Scientific Affairs Career Achievement Award was presented to Aker during CHPA's annual Regulatory, Scientific & Quality Conference (RSQ) on Sept. 29 at the Bethesda North Marriot Hotel and Conference Center by Erin Oliver, Haleon's Vice President and Head of U.S. Regulatory Affairs, and CHPA's 2026 RSQ Planning Committee Chair.
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The Consumer Healthcare Products Association (CHPA), founded in 1881, is the national trade association representing the leading manufacturers and marketers of consumer healthcare products, including over-the-counter (OTC) medicines, dietary supplements, and OTC medical devices. CHPA is committed to empowering self-care by ensuring that Americans have access to products they can count on to be reliable, affordable, and convenient, while also delivering new and better ways to get and stay healthy. Visit www.chpa.org.
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Original text here: https://www.chpa.org/news/2026/09/chpa-honors-julie-aker-advancing-regulatory-science-and-consumer-access
[Category: Health Care]
American Society of Plastic Surgeons: Fat Transfer May Offer Another Breast Reconstruction Option After Mastectomy
ARLINGTON HEIGHTS, Illinois, Sept. 30 (TNSjou) -- The American Society of Plastic Surgeons issued the following news release:
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Fat Transfer May Offer Another Breast Reconstruction Option After Mastectomy
Dutch study found rebuilding the breast with a patient's own fat had high satisfaction, low complications
September 29, 2026
Breast reconstruction using only a patient's own fat may provide another treatment option for some after mastectomy, especially those who do not want implants or may not be candidates for traditional flap surgery, according to a study in the October issue of Plastic
... Show Full Article
ARLINGTON HEIGHTS, Illinois, Sept. 30 (TNSjou) -- The American Society of Plastic Surgeons issued the following news release:
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Fat Transfer May Offer Another Breast Reconstruction Option After Mastectomy
Dutch study found rebuilding the breast with a patient's own fat had high satisfaction, low complications
September 29, 2026
Breast reconstruction using only a patient's own fat may provide another treatment option for some after mastectomy, especially those who do not want implants or may not be candidates for traditional flap surgery, according to a study in the October issue of Plasticand Reconstructive Surgery(R), the official medical journal of the American Society of Plastic Surgeons (ASPS).
"There are still going to be patients that are going to go for the implant," said the study's lead author Andrzej A. Piatkowski de Grzymala, MD, PhD, a professor at Maastricht University Hospital. "There are still going to be patients wanting flap surgery, and there are going to be patients going for the autologous fat transfer. I think that is a good coexistence because there's no perfect reconstruction for patients."
An additional reconstruction option
The process happens in stages. Patients first use a device called the EVE-bra to stretch the skin on the chest after mastectomy.
Next, they undergo autologous fat transfer, a technique that removes fat by liposuction from areas of the body such as the abdomen, back, hips or thighs. The fat is then processed and injected into the chest to rebuild the breast.
Most patients needed around four sessions to achieve their desired results.
Patient satisfaction high
One advantage of the treatment is the breast rebuilt with a patient's own fat looks and feels like a natural breast, plus ages like one as well.
"It feels warm," said Dr. Piatkowski. "What is even more interesting is some breast sensation comes back over time, and you will never achieve this with an implant."
After a year, patients reported significant improvements in several quality-of-life measures, including psychosocial, sexual, and physical well-being as well as satisfaction with their breasts. Patients also stated they had improved satisfaction with their bodies because the liposuction offered the additional benefit of body contouring.
The authors concluded the treatment is a safe and effective breast reconstruction option with a low complication rate.
Trade-offs
However, some patients found the process burdensome and intense. It can take about a year to complete.
"What we hear from our patients is that it's a long journey," said Dr. Piatkowski. "But in the end, and we saw that when we asked our patients after a long time, they're very, very happy and they're very positive about their results."
Additionally, the EVE-bra can cause discomfort, skin irritation, blisters and itching.
In the future
The findings may eventually expand the conversation beyond implants and flap surgery for patients considering breast reconstruction after mastectomy. The study suggested autologous fat transfer may become a valuable additional option for breast reconstruction.
Plastic and Reconstructive Surgery(R) (https://journals.lww.com/plasreconsurg) is published by Wolters Kluwer.
Click here (https://journals.lww.com/plasreconsurg/Fulltext/2023/05000/Oral_Antibiotics_Do_Not_Prevent_Infection_or.9.aspx) to read "Oral Antibiotics Do Not Prevent Infection or Implant Loss after Immediate Prosthetic Breast Reconstruction"
Article: "Oral Antibiotics Do Not Prevent Infection or Implant Loss after Immediate Prosthetic Breast Reconstruction" (doi: 10.1097/PRS.0000000000010073)
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About Plastic and Reconstructive Surgery
Since 1946, Plastic and Reconstructive Surgery(R) (PRS) has been the official journal of the American Society of Plastic Surgeons and a leading source of research and clinical advances across the full breadth of the specialty. The most-cited journal in plastic surgery, PRS publishes innovative research in aesthetic surgery and cosmetic medicine, breast reconstruction, craniofacial care, hand and peripheral nerve, microsurgery and complex reconstruction, along with emerging areas shaping the future of the field.
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About ASPS
The American Society of Plastic Surgeons (ASPS) is the largest organization of board-certified plastic surgeons in the world. Representing more than 11,000 physician members worldwide, the Society is recognized as a leading authority and information source on cosmetic and reconstructive plastic surgery. Founded in 1931, the society represents physicians certified by the American Board of Plastic Surgery or the Royal College of Physicians and Surgeons of Canada.
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About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in professional information, software solutions and services for the healthcare, tax and accounting, financial and corporate compliance, legal and regulatory and corporate performance and ESG sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2022 annual revenues of Euros5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries and employs approximately 20,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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Original text here: https://www.plasticsurgery.org/news/press-releases/fat-transfer-may-offer-another-breast-reconstruction-option-after-mastectomy
[Category: Medical]
AICPA Requests Modifications to Interim CAMT Guidance Application for Financially Troubled Companies
NEW YORK, Sept. 30 -- The American Institute of CPAs issued the following news release:
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AICPA Requests Modifications to Interim CAMT Guidance Application for Financially Troubled Companies
Washington, D.C. (September 28, 2026) - In a letter submitted to the Department of Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) recommended improvements to the Corporate Alternative Minimum Tax (CAMT) guidance for financially troubled companies, specifically Notices 2025-46 and 2026-07. These notices address the application of the CAMT to domestic corporate
... Show Full Article
NEW YORK, Sept. 30 -- The American Institute of CPAs issued the following news release:
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AICPA Requests Modifications to Interim CAMT Guidance Application for Financially Troubled Companies
Washington, D.C. (September 28, 2026) - In a letter submitted to the Department of Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) recommended improvements to the Corporate Alternative Minimum Tax (CAMT) guidance for financially troubled companies, specifically Notices 2025-46 and 2026-07. These notices address the application of the CAMT to domestic corporatetransactions, troubled companies and tax consolidated groups.
The letter's specific recommendations include:
I. Treatment of cancellation of debt income (CODI)
* Refine the order of the CAMT CODI attribute reduction rule.
* Refine the liability floor limitation.
* Refine the catch-all CAMT basis reduction rule.
* Clarify the coordination between the CAMT attribute reduction with subsequent adjusted financial statement remeasurements.
* Provide a true-up mechanism to address applicable financial statement (AFS) and Tax CODI timing differences.
II. Insolvency Exclusion
* Refine and clarify the insolvency exclusion rules.
III. Bankruptcy Exclusion
* Align the "debtor" rule with section 108(d)(2).
* Clarify eligibility for the bankruptcy exclusion.
* Exclude from applicable financial statement income (AFSI) one-time AFS deconsolidation effects.
IV. Emergence from Bankruptcy
* Clarify the AFSI consequences resulting from fresh start accounting.
* Treat emergence from bankruptcy as a qualifying ownership change.
"The AICPA's recommendations are intended to promote consistency in CAMT guidance for financially troubled companies, reduce the compliance burden, improve administrability and provide greater certainty for taxpayers and tax practitioners," said Ning Yim, Senior Manager, AICPA Tax Policy & Advocacy. "As Treasury and the IRS continue to provide CAMT guidance, these recommendations would help ensure the rules are workable in practice and provide greater certainty for financially troubled companies and the tax professionals who advise them."
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About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world's largest member association representing the CPA profession, with a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. A founding member of the Association of International Certified Professional Accountants, the AICPA sets ethical standards for the profession, attestation standards, and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state, and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, partners across the profession to build future talent, and drives continuing education to advance the vitality, relevance, and quality of the profession.
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Background:
March 27, 2023 - Comments on Notice 2023-7 - Initial Guidance Regarding the Application of the Corporate Alternative Minimum Tax under Sections 55, 56A, and 59 of the Internal Revenue Code
January 15, 2025 - AICPA Corporate Alternative Minimum Tax (CAMT)
August 7, 2026 - AICPA Comment Letter on CAMT Notices 2025-46, 2025-49 and 2026-7
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Original text here: https://www.aicpa-cima.com/news/article/aicpa-requests-modifications-to-interim-camt-guidance-application-for-financially-troubled-companies
[Category: Accounting]
