The U.S. Treasury Department and IRS today released for publication in the Federal Register a notice of public hearing on proposed regulations regarding the classification of cloud transactions for purposes of the U.S. tax law’s international provisions.
The proposed regulations were issued in August 2019 to modify and expand the scope of the rules contained in Reg. section 1.861-18 for classifying transactions involving computer programs, and to address the classification of cloud transactions. Read TaxNewsFlash
Today’s notice [PDF 263 KB] announces that the public hearing is set for Tuesday, February 11, 2020. The IRS must receive outlines of topics to be discussed at the public hearing by Friday, January 31, 2020, and if no outlines are received, the public hearing will be cancelled.
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