Revised N-2018-64: Correcting reference to IRB 2018-35 (not 34) on Aug. 27, 2018.

Internal Revenue Service (IRS) sent this bulletin at 08/08/2018 02:27 PM EDT

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August 8, 2018

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Issue Number: N-018-64

Inside This Issue

Notice 2018-64 proposes a revenue procedure that provides guidance on methods for calculating W-2 wages for purposes of section 199A of the Internal Revenue Code (Code) and proposed §§ 1.199A-1 through -6 of the Income Tax Regulations (26 CFR part 1) which are being published contemporaneously. Specifically, this notice provides methods for calculating W-2 wages (1) for purposes of section 199A(b)(2) which, for certain taxpayers, provides a limitation, based on W-2 wages, to the amount of the deduction qualified business income under section 199A; and (2) for purposes of section 199A(b)(7), which, for certain specified agricultural and horticultural cooperative patrons, provides a reduction to the section 199A(a) deduction based on W-2 wages.

Notice 2018-64 will appear in IRB 2018-35 dated Aug. 27, 2018.

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