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IRS Pauses New Tax Law's Withholding For Partnership Sales

Law360, New York (January 2, 2018, 7:07 PM EST) -- The Internal Revenue Service said Friday that it is temporarily suspending a portion of the newly passed tax cut legislation that requires a withholding tax on the sales of certain publicly traded partnership interests held by foreign individuals or corporations.

The revenue agency and the U.S. Treasury Department said in a notice that the IRS will not require recipients in the sale, exchange or other disposition of a publicly traded partnership interest to withhold tax until it has a chance to issue regulations on how to...
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