The US Treasury and the IRS issued Notice 2020-73 on September 17. The Notice indicates that the IRS plans to defer the applicability date of certain final Section 987 regulations and certain related regulations by an additional year, now to tax years beginning after December 7, 2021. These regulations already had been deferred under prior Notices, including most recently under Notice 2019-65 to tax years beginning after December 7, 2020.
US - Notice 2020-73 announces deferred applicability date for foreign currency guidance
September 21st 2020 08:33 AM • By Shelley Giberson
Shelley Giberson
Partner
