The IRS has updated on its website a version of the final regulations under section 199A, and the new version reflects changes from the version released by the IRS on January 18, 2019.
Read the revised version of the final regulations [PDF 698 KB] under section 199A (the changes are indicated in this replacement version of the final regulations).
According to an IRS transmittal message, the new version of the final regulations includes, among other edits:
Also according to the IRS transmittal message, this version of the final regulations has been submitted to the Federal Register for publication.
KPMG will provide a discussion about these important changes in a future report.
During the partial government shutdown, the IRS and Treasury Department posted a version of the final regulations under section 199A on the IRS website. That version (January 18, 2019) of the final regulations under section 199A included the following statement:
This document will be submitted to the Office of the Federal Register (OFR) for publication. The version of the final rule released today may vary slightly from the published document if minor editorial changes are made during the OFR review process. The document published in the Federal Register will be the official document.
According to the advance version released by the IRS, these regulations will be effective on the date when they are published in the Federal Register.
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