The IRS has issued guidance that impacts §§ 124(c)(2), 124(d), 124(e), 143(b), and 167(b) of the Protecting Americans From Tax Hikes Act of 2015 (PATH Act) and the Consolidated Appropriations Act, signed into law on Dec. 18, 2015. The new Rev. Proc 2017-33 obsoletes Rev. Proc. 2008-54 for tax years beginning after 2014 and is effective April 20, 2017.
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