The IRS has released final regulations that address the changes made to Code Sec. 162(f) by the Tax Cuts and Jobs Act. These regulations finalize the proposed regulations released last May. The final regulations also provide guidance relating to the information reporting requirements for fines and penalties under Code Sec. 6050X.
To see T.D. 9946 issuing final regs, click here.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..
