N-2018-68: Guidance on the Application of Section 162(m)
Internal Revenue Service (IRS) sent this bulletin at 08/21/2018 02:24 PM EDT
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Issue Number: N-2018-68Inside This IssueNotice 2018-68 provides initial guidance on the application of § 162(m) of the Code, as amended by “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (Act), Public Law 115-97 (2017). Section 162(m)(1) generally limits the allowable deduction for a taxable year for remuneration by any publicly held corporation paid with respect to a covered employee. The Act made significant amendments to § 162(m), and also provided a transition rule applicable to certain outstanding arrangements (commonly referred to as the grandfather rule). The notice provides guidance on the amended rules for identifying covered employees and the operation of the grandfather rule. Notice 2018-68 will be in IRB: 2018-36, dated 9/10/18. 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. |