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TREAS/IRS RIN: 1545-BO67 Publication ID: Spring 2020 
Title: Rules for Denial of Deduction for Certain Fines, Penalties, and Other Amounts  
Abstract:

Revising 1.162-21 regarding deductibility of certain fines, penalties, and other amounts under 162(f), as revised by the Tax Cuts and Jobs Act of 2017.  Adding 1.6050X regarding information reporting by governments, governmental entities, and certain self-regulating non-governmental entities with respect to certain fines, penalties, and other amounts under 6050X, as added by the Tax Cuts and Jobs Act of 2017.

 
Agency: Department of the Treasury(TREAS)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 1.162-21    26 CFR 1.6050X   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 162(f)    26 U.S.C. 6050X   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  06/00/2020 
Additional Information: REG-104591-18 (NPRM) Drafter attorney: Sharon Horn (202) 317-4426 Reviewer attorney: Norma C. Rotunno (202) 317-4886 Treasury attorney: Natasha Goldvug (202) 622-0180
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Federal, State, Tribal 
Small Entities Affected: Governmental Jurisdictions  Federalism: No 
Included in the Regulatory Plan: No 
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest.
RIN Data Printed in the FR: No 
Agency Contact:
Sharon Y. Horn
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4426