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January 14, 2021
2021-0088

IRS publishes final IRC Section 199A regulations for certain farming cooperatives, along with procedures for calculating their W-2 wages

The IRS has published two pieces of guidance of interest to certain agricultural and horticultural cooperatives (Specified Cooperatives). The new guidance takes the form of: (1) an advance copy of final regulations under IRC Section 199A (TD 9947) pertaining to Specified Cooperatives; and (2) procedures (Revenue Procedure 2021-11) for calculating Form W-2 wages for purposes of IRC Section 199A(g)(1)(B)(i), which limits certain deductions for Specified Cooperatives.

 

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