The IRS has released TD 9625, final regs regarding the exception to the deduction limits on reimbursement or other expense allowance arrangements.
The regulations affect taxpayers who pay or receive advances, allowances or reimbursements under reimbursement or other expense allowance arrangements, and clarify the rules for these arrangements that fell under Income Tax Regulations (26 CFR, Part 1), Section 274(e)(3) of the IRC.
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