Treatment of payments from partnerships to partners for property or services
Title VII — Finance › Subtitle A — Tax › Chapter 6 — Enhancing deduction and income tax credit guardrails, and other reforms
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No wording changed between Senate changes and Final version sent to the President.
How the text changed
(a) In general Section 707(a)(2) is amended by striking Under regulations prescribed and inserting Except as provided. (b) Effective date The amendment made by this section shall apply to services performed, and property transferred, after the date of the enactment of this Act. (c) Rule of construction Nothing in this section, or the amendments made by this section, shall be construed to create any inference with respect to the proper treatment under section 707(a) of the Internal Revenue Code of 1986 with respect to payments from a partnership to a partner for services performed, or property transferred, on or before the date of the enactment of this Act.
(a) In general Section 707(a)(2) is amended by striking Under regulations prescribed and inserting Except as provided. (b) Effective date The amendment made by this section shall apply to services performed, and property transferred, after the date of the enactment of this Act. (c) Rule of construction Nothing in this section, or the amendments made by this section, shall be construed to create any inference with respect to the proper treatment under section 707(a) of the Internal Revenue Code of 1986 with respect to payments from a partnership to a partner for services performed, or property transferred, on or before the date of the enactment of this Act.
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