Comments on Sections 162 and 6050X Requested by IRS

The IRS has invited the public to comment on transitional guidance for the new reporting requirements under section 162(f) and new section 6050X, which was added by the Tax Cuts and Jobs Act, with respect to fines, penalties and other amounts. The comment period is open through November 5, 2018.
Read the Notice here: Notice 2018-19172
Read more here: IRS Seeks Comment On Planned Biz Fine and Penalty Rules

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