U.S.A.: Section 871(m) - IRS publishes Notice 2020-2
The IRS has released Notice 2020-2 on 16 December 2019.
The notice announces among others that:
- The phase-in period provided in 2018-72, 2018-40 I.R.B. 522 for certain provisions of section 871(m) regulations is extended.
- The Department of the Treasury and the Internal Revenue Service intend to delay the effective date of certain provisions of Section 871(m) regulations. Among others, Section 871(m) rules would not apply to any payment made with respect to any non-delta one transaction issued before 1 January 2023.
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