N-2018-23: Transitional Guidance Under §§ 162(f) and 6050X with Respect to Certain Fines, Penalties, and Other Amounts

Internal Revenue Service (IRS) sent this bulletin at 03/27/2018 02:05 PM EDT

IRS GuideWire

March 27, 2018

News Essentials

IRS Resources

Compliance & Enforcement

Contact My Local Office

Filing Options

Forms & Instructions

Frequently Asked Questions

News

Taxpayer Advocate

Where to File

Issue Number: N-2018-23

Inside This Issue

Notice 2018-23 announces that the Treasury Department and the IRS intend to draft proposed regulations under those sections. This notice provides transitional guidance for compliance with § 162(f) as amended and new § 6050X and requests suggestions for the proposed regulations. Section 162(f), amended on December 22, 2017, and § 6050X, added on December 22, 2017, provide rules for deducting and reporting fines, penalties, and other amounts.

Notice 2018-23 will be in IRB 2018-15, dated 4/09/2018.

Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259.

This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message.

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com.

This service is provided to you at no charge by the Internal Revenue Service (IRS).