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January 2020

New Rules Proposed on Charitable Contribution Related to SALT Benefits

The IRS has released new proposed rules related to charitable contributions made to get around the $10,000/$5,000 Read more [...]

Final Regulations Issued on CFC Related Person Rules, Active Trade or Business Exception

Final regulations provide rules on the attribution of ownership of stock or other interests, for determining Read more [...]

IRS Releases Final and Proposed BEAT Regulations

The IRS has issued final and proposed regulations implementing the base erosion and anti-abuse tax (BEAT) Read more [...]

Final and Proposed Regulations Address Foreign Tax Credit

The IRS has issued highly anticipated final regulations on the significant changes made to the foreign Read more [...]

Partner Tax Basis Capital Reporting Not Required Until 2020 Partnership Tax Years

The IRS has released guidance that provides that the requirement to report partners’ shares of partnership Read more [...]

Final Regulations on Calculation of UBTI Issued

The IRS has released final regulations that present guidance on how certain organizations that provide Read more [...]

Final Rules Adopted on Changes to Estate Tax Exclusion Amount

The IRS has issued Reg. §20.2010-1(c) to address the effect of the temporary increase in the basic Read more [...]

TIGTA Recommends Improvements to Consistent Suitability Checks for Participation in IRS Programs

TIGTA Final Audit Report The Treasury Inspector General for Tax Administration (TIGTA) has released Read more [...]

December 2019

Proposed Regs Address Terminated S Corporation Distributions

The IRS has proposed regulations that define an eligible terminated S corporation (ETSC), and provide Read more [...]

Section 280E is Constitutional: Marijuana Dispensary’s Business Deductions Disallowed

A California-based medical marijuana dispensary corporation’s motion for summary judgment challenging Read more [...]

Treasury, IRS Release Draft Opportunity Zone Reporting Form

Treasury and the IRS on October 31 announced the release of a new, draft form implementing certain reporting Read more [...]

Senate Blocks Democrats’ Push to Overturn SALT Cap Workaround Rules; Vaping Tax Bill Clears Committee

The Senate blocked a Democratic resolution on October 23 to overturn Treasury rules preventing certain Read more [...]

Top Senate Tax Writers Call for Action on SECURE Act

Senate Finance Committee (SFC) Chair Chuck Grassley, R-Iowa, and other top Senate tax writers are calling Read more [...]

Hopes for Year-End Tax Extenders Package Appear Dwindling

Hopes for a year-end tax extenders package appear to be dwindling on Capitol Hill. Tax Extenders Read more [...]

Proposed Rules Clarifying Carried Interest Limitation Expected Early 2020, Kautter Says

Treasury and the IRS are expected to release proposed rules in "early 2020" that would clarify certain Read more [...]

IRS Increases Enforcement Action on Syndicated Conservation Easements, IR-2019-182

The IRS has announced a significant increase in enforcement actions for syndicated conservation easement Read more [...]

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

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