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July 2019

Bipartisan IRS Reform Bill

The Senate has approved a bipartisan IRS reform bill, which now heads to President Trump’s desk. Trump Read more [...]

Proposed Rules Explain 199A Deduction for Cooperatives and Patrons

Taxpayers may rely on two new pieces of IRS guidance for applying the Code Sec. 199A deduction Read more [...]

Final Rules Limit Charitable Contributions Made for SALT Credits

The IRS has issued final regulations that require taxpayers to reduce the amount any charitable contribution Read more [...]

Final and Proposed Regs on GILTI-Related Matters

Final regulations address the global intangible low-taxed income (GILTI) provisions of Code Sec. Read more [...]

Temporary Regulations Limit Application of Participation DRD To Prevent Tax Avoidance

Newly issued temporary regulations limit the application of the Code Sec. 245A participation Read more [...]

Final Regulations Reduce Section 956 Income Inclusions by Domestic Corporations Owning CFC Stock

Final regulations reduce the Code Sec. 956 amount for certain domestic corporations that own Read more [...]

Employers Can Offer HRAs Integrated with Individual Coverage

Final rules allow employers to use health reimbursement arrangements (HRAs) to reimburse employees for Read more [...]

Final Regs Address CPEO Requirements, Responsibilities

Final regulations provide requirements that a person must satisfy to become and remain a certified professional Read more [...]

June 2019

Senate Tax Writers Discuss Bipartisan Retirement Savings Bills; Related House Vote Expected Soon

Senate tax writers on Capitol Hill continue to discuss bipartisan retirement savings bills as the House Read more [...]

Trump, Democratic Leaders Agree to Develop $2 Trillion Infrastructure Plan

President Donald Trump and Democratic congressional leaders have agreed to develop a $2 trillion infrastructure Read more [...]

Proposed Regulations Issued on Withholding on Foreign Partner’s Disposition of Partnership Interest

Highly anticipated proposed regulations have been issued on the withholding required with respect to Read more [...]

Proposed Regulations Issued on CFC Related Person Rules and Active Trade or Business Exception

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

Final Regulations Issued on Recognition and Deferral of Code Sec. 987 Gain or Loss

Final regulations have been issued on transactions of U.S. taxpayers that have qualified business units Read more [...]

Medicaid Waiver Payments Were Earned Income Even Though IRS Excluded Them From Gross Income

Medicaid waiver payments were earned income, even though IRS Notice 2014-7 treated them as “difficulty Read more [...]

May 2019

Wolters Kluwer Interview: A Two-Part Q&A Series on the Section 199A Deduction (Part 1 & 2)

Wolters Kluwer Interview: A Two-Part Q&A Series on the Section 199A Deduction (Part 1) Republicans’ Read more [...]

Bipartisan House Bill Aims to Fix “Retail Glitch”

A bipartisan House bill has been introduced that would fix a GOP tax law drafting error known as the "retail Read more [...]

House Approves Bipartisan IRS Reform Bill

The House on April 9 approved by voice vote a bipartisan, bicameral IRS reform bill. The IRS bill, which Read more [...]

Proposed Reliance Regs Address Qualified Opportunity Funds, Zones and Businesses

Proposed regulations address gains that may be deferred when taxpayers invest in a qualified opportunity Read more [...]

Safe Harbor Provided for Basis of Professional Sports Contracts for Players Traded Between Teams

The IRS has provided a safe harbor for professional sports teams to avoid the recognition of gain or Read more [...]

April 2019

Correction to Penalty Relief for Missing Negative Tax Basis Capital Account Info

The IRS has corrected Notice 2019-20, which provided a waiver of penalties under Code Secs. Read more [...]

CFC Partners Required to Increase E&P for Subpart F Inclusions

The upper-tier controlled foreign corporation (CFC) partners of a domestic partnership were required Read more [...]

Proposed Regulations on Reporting Life Insurance Policy Sales and Death Benefit Payments

The IRS has issued proposed regulations on the information reporting requirements under Code Secs. Read more [...]

National Taxpayer Advocate Nina Olson Announces Retirement

Nina E. Olson, the National Taxpayer Advocate (NTA), has announced her decision to retire this summer Read more [...]

March 2019

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