Section 1341 and rate changes may provide permanent tax savings

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

July 2019

Overview

Given the reduction in tax rates under the 2017 tax reform act, a taxpayer that included an item in income before 2018 and must repay it in 2018 or later should consider whether the repayment qualifies for relief under Section 1341.

The takeaway

Given the change in tax rates under the Act, a taxpayer that included an item in income before 2018 and must repay it in 2018 or later should consider whether the repayment qualifies for relief under Section 1341.

Contact us

Christine Turgeon

Partner, Federal Tax Services Leader, PwC US

Follow us