Page 15 - Large Business IRS Training Guides
P. 15
General Overview
added to the Internal Revenue Code by
• Section 59A,
Tax Cuts and Jobs Act (“TCJA”),
section 14401 of
a new tax often referred to as the Base Erosion
imposes
(“BEAT”)
Anti-Abuse Tax
• Proposed regulations
(Prop. Regs.) published in Federal
Register
on December 21, 2018
may rely on the Prop. Regs. for taxable years
• Taxpayer
beginning after 2017 and before they are finalized,
provided that the taxpayer
and all its related parties
consistently
apply the rules for all tax years ending before
the issuance of final regulations
• Form
8991 and instructions released
13
