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Proposed rules govern deductions and reporting for restitution

by My Tax Company | May 13, 2020 | Tax Tips and News

IRS Tax News – Proposed rules govern deductions and reporting for restitution
The IRS issued regulations explaining the allowance of deductions for certain fines and penalties under Sec. 162(f) as amended by the law known as the Tax Cuts and Jobs Act.
Source: IRS Tax News – Proposed rules govern deductions and reporting for restitution

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