The U.S. Treasury Department and IRS today released for publication in the Federal Register a notice of corrections to proposed regulations (REG-118-425-18)—regulations that were issued in June 2019 as guidance under the section 199A changes with regard to the application of a deduction for certain cooperatives and grain companies under section 199A.
The corrections are being made in response to two typographical errors. Read the notice of correction [PDF 301 KB] to the proposed regulations.
The proposed regulations [PDF 382 KB] (39 pages) were issued as guidance to implement the statutory revisions under section 199A, and were published in the Federal Register on June 19, 2019. Read a KPMG report of initial impressions about these proposed regulations: TaxNewsFlash
Today’s release further notes that written or electronic comments and requests for a public hearing concerning the proposed regulations are still being accepted and must be received by August 19, 2019.
For more information, contact KPMG’s National Director of Cooperative Tax Services:
David Antoni | +1 (267) 256-1627 | email@example.com
Or Associate National Director of KPMG’s Cooperative Tax Services:
Brett Huston | +1 (916) 554-1654 | firstname.lastname@example.org
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