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TREAS/IRS | RIN: 1545-BO90 | Publication ID: Fall 2020 |
Title: Domestic Production Activities Deduction for Specified Agricultural or Horticultural Cooperatives | |
Abstract:
On March 23, 2018, Congress modified section 199A(g) to provide specified agricultural or horticultural cooperatives with a deduction similar to the repealed section 199 deduction effective retroactively to January 1, 2018, in H.R. 1625 - Consolidated Appropriations Act, 2018, Public Law 115-141 (H.R. 1625). Section 199A(g)(6) provides that the Secretary shall prescribe such regulations as are necessary, including regulations which prevent more than one taxpayer from being allowed a deduction under section 199A(g). Such regulations shall be based on the regulations applicable to cooperatives and their patrons under section 199 as in effect before its repeal. |
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Agency: Department of the Treasury(TREAS) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
EO 13771 Designation: Other | |
CFR Citation: None (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 26 U.S.C. 7805 26 U.S.C. 199A(g)(6) and 199A(f)(4) |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-118425-18 (Final) Drafter attorney: Jason Deirmenjian (202) 317-4470 Reviewer attorney: James Holmes (202) 317-4137 Treasury attorney: Natasha Goldvug (202) 622-0180 CC:PSI | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Jason Deirmenjian Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 5319, Washington, DC 20224 Phone:202 317-4470 Fax:855 591-7867 Email: jason.p.deirmenjian@irscounsel.treas.gov |