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News EssentialsThe Newsroom TopicsIRS Resources | Issue Number: IR-2020-252Inside This IssueIRS provides certainty regarding the deductibility of payments by partnerships and S corporations for State and local income taxes
The notice describing the forthcoming proposed regulations applies to these types of income taxes starting today, and also allows taxpayers to apply these rules to specified income tax payments made in a taxable year of a partnership or an S corporation ending after Dec. 31, 2017, and before the date the forthcoming proposed regulations are published in the Federal Register. Updates on the implementation of the Tax Cuts and Jobs Act (TCJA) can be found on the Tax Reform page of IRS.gov. Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
Monday, November 9, 2020
IR-2020-252: IRS provides certainty regarding the deductibility of payments by partnerships and S corporations for State and local income taxes
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