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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 [...]

Senate Tax Writers Introduce Bipartisan Digital Goods Bill

Top Senate tax writers have introduced a bipartisan bill to prevent duplicative taxation on digital goods Read more [...]

IRS Releases Draft Instructions for 2018 Form 1040

The IRS has released Draft Instructions for the 2018 Form 1040. Additionally, the IRS has cautioned taxpayers Read more [...]

New IRS Commissioner: Rettig Takes the Reins

The IRS’s new Commissioner was officially sworn in on October 1 by Treasury Secretary Steven Mnuchin. Read more [...]

Senate Lawmakers Examine Tax Reform’s Effect on Small Businesses

The Senate Small Business Committee held an October 3 hearing on expanding opportunities for small businesses Read more [...]

October 2018

House Ways and Means Committee Approves Tax Reform 2.0 Package

House Republican tax writers have advanced a "Tax Reform 2.0" legislative package. The measure is expected Read more [...]

Charles Rettig Confirmed as New IRS Commissioner

Charles P. "Chuck" Rettig was confirmed as the new IRS Commissioner on September 12. The Senate confirmed Read more [...]

Reaction: Proposed IRS Regs Would Curb SALT Cap Workarounds

New IRS guidance aiming to curb certain state and local tax (SALT) deduction cap "workarounds" is the Read more [...]

IRS Proposes to Remove Section 385 Documentation Regulations

The IRS has proposed to remove the Code Sec. 385 documentation regulations provided in Reg. §1.385-2. Read more [...]

Wolters Kluwer Interview: The New Code Sec. 199A Passthrough Deduction and Proposed Regulations (Parts 1 & 2)

Last year’s Tax Reform created a new 20-percent deduction of qualified business income for passthrough Read more [...]

Wolters Kluwer Projects 2019 Inflation Amounts

Wolters Kluwer has projected annual inflation-adjusted amounts for tax year 2019. The projected amounts Read more [...]
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