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March 2019

Compliance Monitoring Obligations of Low-Income Housing Credit Agencies Finalized

Final regulations relating to the low-income housing tax credit revise and clarify requirements Read more [...]

Wyden Urges Treasury, IRS to “Do More” to Waive Underpayment Penalties

The Senate’s top Democratic tax writer is calling on the IRS and Treasury to further waive underpayment Read more [...]

Senators Introduce Bipartisan Craft Beverage Modernization and Tax Reform Bill

Senators have introduced a bipartisan bill specifically tailored to reduce excise taxes and regulations Read more [...]

Opportunity Zone’s Tax Writers, Stakeholders Criticize IRS’s 50-Percent Locational Rule

The IRS’s proposed 50-percent gross income locational rule on the active conduct of Opportunity Read more [...]

IRS Postpones Canceling Tax Transcript Faxing Service After Grassley, Wyden Urge Delay

The IRS has said that it is postponing its plan to discontinue faxing taxpayer transcripts. The IRS Read more [...]

February 2019

IRS Extends Passthrough Deduction to Real Estate Rental Activities, Provides Other Guidance

New IRS guidance fills in several more pieces of the Code Sec. 199A passthrough deduction puzzle. Read more [...]

Interim Guidance for Excise Tax on Excess Remuneration and Parachute Payments

The IRS has issued interim guidance on the excise tax payable by exempt organizations on remuneration Read more [...]

Safe Harbors Provided for Business Payments Made in Exchange for SALT Credits

The IRS has provided safe harbors for business entities to deduct certain payments made to a charitable Read more [...]

Final Transition Tax Regulations Issued

The Treasury and IRS have issued final regulations for determining the inclusion under Code Sec. Read more [...]

IRS Issues 2019 Updates for Ruling Requests, Technical Advice, and No-Rule Procedures

The IRS has issued its annual revisions to the general procedures for ruling requests, technical Read more [...]

January 2019

Proposed Regs Provided for Code Sec. 163(j) Limit

The IRS has proposed regulations on the limitation on the business interest expense deduction under Read more [...]

Deductions Denied to Medical Marijuana Dispensary

A nonprofit corporation that operated a medical-marijuana dispensary legally under California law Read more [...]

2019 Standard Mileage Rates Released

The IRS released the optional standard mileage rates for 2019. Most taxpayers may use these rates Read more [...]

Guidance Issued on Nondeductible Portion of Parking Fringe Expenses and UBTI

The IRS has provided guidance and examples for calculating the nondeductible portion of parking expenses. Read more [...]

Guidance on Tax Benefit for Stock Options and Restricted Stock Units

The IRS has released initial guidance on the new Code Sec. 83(i), added by the 2017 Tax Cuts and Read more [...]

Proposed Regs Address Foreign Tax Credit Changes

Highly anticipated foreign tax credit regulations have been issued that provide guidance on the significant Read more [...]

Proposed Regulations Provide Guidance on Base Erosion and Anti-Abuse Tax (BEAT)

Proposed regulations provide much anticipated guidance on the base erosion and anti-abuse tax (BEAT) Read more [...]

Accounting Method Procedures Simplified for Complying with AFS Deadline for All Events Test

The IRS will grant automatic consent to accounting method changes to comply with new Code Sec. 451(b), Read more [...]

Relief from “Once-In-Always-In” Condition for Excluding Part-Time Employee Deferrals Under 403(b) Plan

The IRS has issued transition relief from the "once-in-always-in" condition for excluding part-time Read more [...]

Guidance on 2019 Withholding Rules

The IRS has provided interim guidance for the 2019 calendar year on income tax withholding from wages Read more [...]

Regulations to be Issued on Controlled Foreign Corporations’ Previously Taxed Earnings and Profits

The IRS and the Treasury intend to provide regulations that will address issues affecting foreign corporations Read more [...]

December 2018

November 2018

Tax Reform 2.0: House Approves Retirement Savings, Business Innovation Bills

The House has approved two tax bills that are part of Republicans’ three-pronged "Tax Reform 2.0" package. Read more [...]

House Approves Bill to Extend Individual, Small Business Tax Cuts

The House has approved a tax bill that would make permanent tax reform’s individual and small business Read more [...]

Stakeholders Weigh in on Proposed Passthrough Deduction Rules

Stakeholders are urging the IRS to clarify its guidance on tax reform’s new passthrough deduction. Read more [...]
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