Treasury and the IRS hope to complete several guidance projects implementing the 2017 tax law by mid-August, but some high-profile projects may take longer, acting IRS Commissioner David Kautter said May 12.
Kautter said at the American Bar Association Section of Taxation meeting in Washington that the IRS hopes to issue proposed regulations on the section 199A passthrough deduction by mid- to late-July, but cautioned that the guidance won’t answer every question practitioners have. He said he believes it’s better to get the regulations out sooner so practitioners can begin commenting.
This article was submitted by Chad Halstead, Katz Sapper Miller. If you would like to submit content or write an article for the Tax Section, please email Kara Sikorski at firstname.lastname@example.org.