U.S.A.: Section 871(m) - IRS publishes Notice 2022-37
The IRS has released Notice 2022-37 on 23 August 2022.
The notice announces an additional two-year extension for taxpayers to comply with the final regulations, with respect to section 871(m) regulations.
- The phase-in period provided in the Notice 2020-2 (T19026) for certain provisions of section 871(m) regulations is extended.
- 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 2025.
We will continue to monitor the IRS publications and will provide customers with further information in due course.
This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A. its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions