Today, the Department of the Treasury issued a notice of proposed rulemaking and notice of public hearing regarding changes to Code Section 2704. We have been anticipating these proposed regulations for some time. Since they were just published, we have not had time to read them and comment on them, but wanted our clients and contacts to be aware that this had been published. There is a 90-day window for written and electronic comments to be submitted and a public hearing is being scheduled for December 1, 2016.
The document has not been issued in the Federal Register yet: This will take place officially on August 4, but you can access the pre-publication document here. We will provide additional information about this document once we have had time to absorb it. In the meantime, if you have any questions, please contact us.