 Internal Revenue Service, IRS Tax News, IRS and Treasury provide guidance for insurance providers on alternative minimum tax under the Inflation Reduction Act. Honestly, is it just me or is blindly being guided by government entities feeling like a less and less wise decision these days given the clear and justifiable lack of trustworthiness in government entities? I mean, after President's Day, I think we should take the time to really recognize how amazingly lucky we've been with our presidents. Until recently, of course. George Washington could have been king for crying out loud and he turned it down because he knew power corrupts and over-centralization of power is always a bad idea in the long run. I mean, if power corrupts, George Washington withstood the corrupting power equivalent of being plugged directly into like a warpiper drive or something and he handled it beautifully. Stay sharp, there's two more coming in, they're going to try and cut us off. About precise calculations, we'd fly right through a star or bounce it close to a supernova and then it injured real quick, wouldn't it? We're losing it up like a ship. Whereas Joe Biden has clearly been fried to a crisp by it. I mean, you know, let's be honest. Let's be honest. George Washington just wanted to do his duty and go home. Joe Biden by contrast has been clinging to Washington power like a squirrel stuck in a trap because it won't let go of the nut and the hole. Oh, I'm going to have these things on my arms forever. Homer, I'm going to have to saw your arms off. They'll grow back, right? Oh, yeah. Are you just holding onto the can? Your point being? I mean, Joe Washington, he looked to serve, not for fame. Joe Biden looks for the most popular TikTok influencers to have a photo shoot with and his wife visits the Grammys for political pop points for crying out loud. Like, I'm telling you, we just need like a plain, boring, dedicated, no nonsense dude in the White House again. Somebody so boringly normal, his favorite sex position is like 66, but like where the second six is transposed. So like the two sixes, you know, if you think about them as like little people would be like facing each other. You know what I mean? The second six being like a nine that's been flipped upside down. So it's now basically a six, but facing like the opposite way as a normal six. So like the upside down nine on the right side would be facing, you know, the six on the left side. You know, I know Phil. I know that I'm not supposed to explain. I'm not supposed to explain the joke, but I just don't want to be misinterpreted. You know, no, no, Phil. I'm not scared of being missing. Okay, whatever, Phil. Look, no, no, I'm not going to go into my favorite sex positions at this point in time. That's that's why because because it's irrelevant, Phil, that's that's irrelevant. I wasn't I wasn't volunteering for the job, Phil. I was just trying to say that we just need like a normal dude or dude in there in the White House. Whatever. Shut up, Phil. Onto the news. The C. A. M. T. Until the issuance of proposed regulations, the Inflation Reduction Act of 2022. Where have I seen that before? Like hundreds of times maybe over the last few, few, few months here as I've been reading the tax news. It's come up a few times, I must say. It was created the C. A. M. T. Which imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning in 2023. Large corporations including insurance companies with average annual adjusted financial statement income exceeding $1 billion for the taxpayers generally affected by the C. A. M. T. The Treasury Department and the IRS have issued notice 2023 dash 20 to provide certainty to insurance companies and certain other taxpayers. Well, that's we got certainty is on the way. So in particular notice 2023 dash 20 provides interim guidance for the for the determination of adjusted financial statement income as it relates to one variable contracts and similar contracts to funds withheld reinsurance and modified co insurance agreements and free the basis for certain assets held by certain previously tax exempt entities that received a quote flash start in quote basis adjustment. So clear clear as day everything. I hope everyone you don't even need to read it at this point you just wrote you just read those three points and basically everything is is just crystal clear. So notice 2023 dash 20 also solicits comments on the rules contained in the notice and certain other issues under consideration. The Treasury Department and the IRS recommend that such comments be submitted by April 3rd 2023. More information may be found on the Inflation Reduction Act page. There's a link to that here.