The IRS on December 18, 2020, posted to its website a version of final regulations (T.D. 9932) under section 162(m) limiting the deduction for compensation paid for covered employees.
The final regulations [PDF 507 KB] (109 pages) considered taxpayer comments to the proposed regulations (December 2019) in a number of areas, including defined terms, grandfathering and applicability dates, ordering, and coordination with related rules. While the final regulations substantially adopt the regulations as proposed, there are several modifications and clarifications.
This report highlights the changes made in the final regulations.
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Robert Delgado | +1 (858) 750-7133 | email@example.com
Erinn Madden | +1 (202) 533-3757 | firstname.lastname@example.org
Terri Stecher | +1 (202) 533-4830 | email@example.com
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