taxnews.ey.comPrint

13 June 2018

IRS delays application of Section 987 regulations for additional year

On June 13, 2018, the IRS announced (Notice 2018-57) that it intends to amend the final regulations under Section 987, as well as certain related provisions of the temporary regulations under that section, to delay the applicability date of those regulations by one additional year. The IRS had previously delayed the application of the Section 987 regulations by one year in Notice 2017-57 — after the regulations were identified in Notice 2017-38 (along with seven other regulations) as significant tax regulations requiring additional review under Executive Order 13789. A Tax Alert is forthcoming.

Document ID: 2018-9011

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2025, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement