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August 23, 2022

IRS announces plan to delay effective date for aspects of IRC Section 871(m) regulations and further extend transition relief

The IRS has announced (Notice 2022-37) that it plans to delay the effective/applicability date for certain rules in final regulations under IRC Section 871(m) and to extend for two more years the phase-in period provided in Notice 2020-2 for certain provisions of the regulations. For background, see Tax Alert 2019-2265.