By Thomas Humphreys, Michael Lebovitz, Warren Payne and Brennan Young ( January 17, 2019, 5:48 PM EST) -- The Tax Cuts and Jobs Act of 2017[1] added new Sections 245A(e) and 267A to the Internal Revenue Code of 1986.[2] Section 245A(e) denies the Section 245A dividends-received deduction for "hybrid" dividends. Section 267A concerns payments on hybrid instruments and payments by, or to, a hybrid entity, providing that no deduction is allowed for any amount (i) paid or accrued pursuant to a "hybrid" transaction or (ii) paid by, or to, a "hybrid" entity. On Dec. 20, 2018, the Internal Revenue Service issued proposed regulations under both of these IRC provisions.[3] The proposed regulations note that if the regulations are finalized by June 22, 2019, then they will generally be effective Jan. 1, 2018. However, if the proposed regulations are not finalized by June 22, 2019, then they would be effective Dec. 20, 2018. Treasury has requested comments on the proposed regulations by Feb. 26, 2019....