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Final rules determine when fines and penalties are deductible.
- Source :
- Tax Adviser; Apr2021, p43-44, 2p
- Publication Year :
- 2021
-
Abstract
- The article focuses on guidance from the U.S. Internal Revenue Service (IRS) on the deductibility of fines and penalties from taxpayers. It is noted that the regulations provide guidance on Sec. 162(f), which was amended by the law known as the Tax Cuts and Jobs Act (TCJA). It mentions that the final regulations were effective from January 19, 2021.
Details
- Language :
- English
- ISSN :
- 00399957
- Database :
- Complementary Index
- Journal :
- Tax Adviser
- Publication Type :
- Periodical
- Accession number :
- 149634351