Ramifications of the Path Act and IRS Notice 2016-66

There has been much discussion regarding the Path Act as well as IRS Notice 2016-66, but not as much discussion as to the notice’s effect regarding the new law that took effect 1 January 2017. This notice, if it stands, will have the effect of nullifying he Path Act law that was just recently passed. Let’s first discuss the Path Act and then Notice 2016-66. The Path Act was passed and signed into law in December of 2015. For the…