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Federal Register / Vol. 86, No. 183 / Friday, September 24, 2021 / Rules and Regulations 5 Treatment of net operating losses incurred in post-2017 taxable years that are carried back to pre-2018 taxable yearsi In general. Except as provided in paragraph j5ii of this section, a net operating loss incurred in a taxable year beginning after December 31, 2017
a post-2017 taxable year, which is carried back, pursuant to section 172, to a taxable year beginning before January 1, 2018 a pre-2018 carryback year, will be carried back under the rules of 1.904g3b. For purposes of applying the rules of 1.904g3b, income in a pre-2018 separate category in the taxable year to which the net operating loss is carried back is treated as if it included only income that would be assigned to the post-2017 general category. Therefore, any separate limitation loss created by reason of a passive category component of a net operating loss from a post-2017 taxable year that is carried back to offset general category income in a pre-2018 carryback year will be recaptured in post-2017
taxable years as general category income, and not as a combination of general, foreign branch, and section 951A category income.
ii Foreign source losses in the post2017 separate categories for foreign branch category income and section 951A category income. Net operating losses attributable to a foreign source loss in the post-2017 separate categories for foreign branch category income and section 951A category income are treated as first offsetting general category income in a pre-2018 carryback year to the extent available to be offset by the net operating loss carryback. If the sum of foreign source losses in the taxpayers separate categories for foreign branch category income and section 951A category income in the year the net operating loss is incurred exceeds the amount of general category income that is available to be offset in the carryback year, then the amount of foreign source loss in each of the foreign branch and section 951A categories that is treated as offsetting general category income under this paragraph j5ii, is determined on a proportionate basis.
General category income in the pre-2018
carryback year is first offset by foreign source loss in the taxpayers post-2017
separate category for general category income in the year the net operating loss is incurred before any foreign source loss in that year in the separate categories for foreign branch category income and section 951A category income is carried back to reduce general category income. To the extent a foreign source loss in a post-2017 separate category for foreign branch category
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income or section 951A category income offsets general category income in a pre2018 taxable year under the rules of this paragraph j5ii, no separate limitation loss account is created.

7 Applicability date. Except as otherwise provided in this paragraph j7, this paragraph j applies to taxable years ending on or after December 31, 2017. Paragraph j5 of this section applies to carrybacks of net operating losses incurred in taxable years beginning on or after January 1, 2018.
Par. 6. Section 1.951A3 is amended by adding a sentence at the end of paragraph e2 to read as follows:
1.951A3 Qualified business asset investment.

e
2 For purposes of applying section 951Ad3 and this paragraph e, the technical amendment to section 168g to provide a recovery period of 20 years for qualified improvement property for purposes of the alternative depreciation system enacted in section 2307a of the Coronavirus Aid, Relief, and Economic Security Act, Public Law 116136 2020 is treated as enacted on December 22, 2017.

Douglas W. ODonnell, Deputy Commissioner for Services and Enforcement.
Approved: September 10, 2021.
Mark J. Mazur, Acting Assistant Secretary of the Treasury Tax Policy.
FR Doc. 202120615 Filed 92121; 4:15 pm BILLING CODE 483001P

DEPARTMENT OF LABOR
Wage and Hour Division 29 CFR Parts 531, 578, 579 and 580
RIN 1235AA21

Tip Regulations Under the Fair Labor Standards Act FLSA; Partial Withdrawal Department of Labor, Wage and Hour Division.
ACTION: Final rule.
AGENCY:

In December 2020, the Department promulgated a final rule 2020 Tip final rule to amend its tip regulations to address the Consolidated Appropriations Act of 2018 CAA
amendments to section 3m of the Fair
SUMMARY:

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Labor Standards Act FLSA, among other things. In this final rule, the Department withdraws two portions of the 2020 Tip final rule that have not yet gone into effect addressing civil money penalties CMPs and finalizes proposed changes to those portions of the 2020
Tip final rule. The Department also modifies regulatory provisions adopted by the 2020 Tip final rule addressing managers and supervisors.
DATES: As of November 23, 2021 Wage & Hour is withdrawing the revisions to 578.3, 578.4, 579.1, 579.2, 580.2, 580.3, 580.12, and 580.18, published December 30, 2020, at 85 FR 86756, delayed until April 30, 2021, on February 26, 2021, at 86 FR 11632, and delayed until December 31, 2021, on April 29, 2021 at 86 FR 22597.
This final rule is effective November 23, 2021.
FOR FURTHER INFORMATION CONTACT:
Amy DeBisschop, Director of the Division of Regulations, Legislation, and Interpretation, Wage and Hour Division, U.S. Department of Labor, Room S
3502, 200 Constitution Avenue NW, Washington, DC 20210, telephone: 202
6930406 this is not a toll-free number. Copies of this final rule may be obtained in alternative formats Large Print, Braille, Audio Tape, or Disc, upon request, by calling 202 6930675
this is not a toll-free number. TTY/
TDD callers may dial toll-free 877 889
5627 to obtain information or request materials in alternative formats.
Questions of interpretation or enforcement of the agencys existing regulations may be directed to the nearest WHD district office. Locate the nearest office by calling the WHDs tollfree help line at 866 4USWAGE 866
4879243 between 8 a.m. and 5 p.m. in your local time zone, or log onto WHDs website at https www.dol.gov//whd/
contact/local-offices for a nationwide listing of WHD district and area offices.
SUPPLEMENTARY INFORMATION:
I. Executive Summary Section 3m of the FLSA allows an employer that satisfies certain requirements to count a limited amount of the tips received by its tipped employees as a credit toward the employers Federal minimum wage obligation known as a tip credit. See 29 U.S.C. 203m2A. In 2018, Congress passed the Consolidated Appropriations Act CAA, Public Law 115141, Div. S., Tit. XII, sec. 1201, 132
Stat. 348, 114849 2018, which amended section 3m. The CAA added a new statutory provision at section 3m2B which expressly prohibits employers from keeping employees tips
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