OMB Receives Final and Proposed Section 199A Regulations
Posted on Dec 17, 2018 in Individual Taxation
The Office of Management and Budget (OMB) received the proposed and final regulations regarding the new section 199A pass-through deduction regime on December 13 and 14. The proposed regulations focus on regulated investment company-specific guidelines while the final regulations follow up on the proposed pass-through deduction rules released in August. The regulations are not marked for expedited review; however, the government has indicated that it plans to release the final regulations before the end of the year so they will take effect for tax year 2018.
Read More: OIRA Reviewing Final and Proposed 199A Rules