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November 2019

Tax Extenders Remain Top Contender for Hitching a Ride on Must-Pass Government Funding Bill

"A thumb goes up, a car goes by…" Tax extenders remain a top contender for "hitching a ride" on November’s Read more [...]

IRS Provides Section 199A Safe Harbor for Rental Real Estate

The IRS has issued a revenue procedure with a safe harbor that allows certain interests in rental real Read more [...]

Cryptocurrency Guidance, Virtual Currency FAQs Released

The IRS has released cryptocurrency guidance and frequently asked questions (FAQs) on virtual currency. Read more [...]

SALT Cap Not Unconstitutionally Coercive

A district court has dismissed a lawsuit filed by four states’ against the federal government, ruling Read more [...]

Final Regs Revert Back to Prior Partnership Disguised Sale Rules

New final regulations that address the allocation of partnership liabilities for disguised sale purposes Read more [...]

Preceding Year Disaster Loss Election Final Regulations

The IRS has released final regulation on the election to take a loss resulting from a federally declared Read more [...]

Proposed Regs Address Tax Implications of LIBOR Elimination

Proposed regulations provide guidance on the potential tax consequences of replacing the London interbank Read more [...]

October 2019

Final Regulations on 100 Percent Bonus Depreciation Issued, Along With New Proposals

Final regulations dealing with the 100 percent bonus depreciation allowance for qualified property acquired Read more [...]

Proposed Regulations Provide Guidance on Section 382(h) Built-in Gain and Loss Computation

Proposed regulations would provide guidance on the inclusion of income and deduction items in the calculation Read more [...]

Final Regulations Amend Hardship Distribution Rules from Section 401(k) Plans

The IRS has issued final regulations that amend the rules relating to hardship distributions from Code Read more [...]

Proposed Regulations Released on Applicable Financial Statement for All-Events Test

For a taxpayer using an accrual method of accounting, the all events test is not met for item of gross Read more [...]

Advance Payment Proposed Regulations Released

Proposed regulations provide rules for accrual method taxpayers who receive advance payments. The proposed Read more [...]

Automatic Accounting Change Procedures for All Events Test and Advance Payment Deferral

Taxpayers may use the automatic consent procedures to change accounting methods to comply with the recent Read more [...]

Proposed Regulations Update Exempt Organization Reporting Requirements; Penalty Relief Provided

Amendments to have been proposed to update the information reporting regulations under Code Sec. 6033, Read more [...]

September 2019

Capital Gains Indexing, Payroll Tax Cuts

President Trump recently walked back consideration of capital gains indexing and a payroll tax cut, Read more [...]

LB&I Withdraws Guidance on Cost-Sharing Arrangement Stock Based Compensation

The IRS Large Business and International Division (LB&I) has withdrawn its directive to examiners Read more [...]

Proposed Regulations Classify Cloud and Digital Content Transactions

Transactions involving digital content and cloud computing have become common due to the growth of electronic Read more [...]

Final Regs Tweak Safe Harbor for Partnership Allocations of Creditable Foreign Tax Expenditures

The IRS has adopted final regulations with respect to the allocation by a partnership of foreign income Read more [...]

Nondiscrimination Relief for Closed Defined Benefit Plans Extended Again

The temporary nondiscrimination relief for closed defined benefit plans provided in Notice 2014-5, Read more [...]

Proposed Regulations Update Fleet-Average, Vehicle Cents-Per-Mile Valuation Rules

Proposed regulations increase a vehicle’s maximum value for eligibility to use the fleet-average valuation Read more [...]

Eligible Partnerships Granted Extension to File Form 1065 and Schedules K-1

The IRS has granted a six-month extension to eligible partnerships to file a superseding Form 1065, Read more [...]

100 Percent Bonus Depreciation Guidance for Certain Tax Years Allows Late Elections, Revocations

Bonus depreciation guidance that applies to property acquired after September 27, 2017, in a tax year Read more [...]

Top Senate Tax Writers Release First Round of Bipartisan Reports Examining Tax Extenders

The Senate’s top tax writers have released the first round of bipartisan task force reports examining Read more [...]

August 2019

Proposed Exception to MEP Unified Plan Rule

Proposed regulations would provide an exception to the unified plan rule for multiple employer plans Read more [...]

Proposed Regulations Address PFIC Rules

The Treasury and IRS have issued proposed regulations on provisions dealing with passive foreign investment Read more [...]
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