§ 245A and T.D. 9865: Two Steps Forward, One Step Back for Temporary Treasury Regulations?

Abstract

This "prompt" for the Columbia Journal of Tax Law's "Tax Matters" online publication analyzes the Treasury Department's assertion of the good cause exception when it issued temporary Treasury regulations without notice and comment under the new IRC § 245A, enacted as part of the Tax Cuts and Jobs Act to provide a dividends received deduction for U.S. corporations receiving dividends from certain non-U.S. subsidiaries.

Keywords: tax, TCJA, 245A, dividends received deduction, good cause exception, Administrative Procedure Act, temporary regulations

JEL Classification: K23, K34