Survey Shows Investors’ Mixed Views on Credit Losses Standard
The FASB has heard plenty of complaints from banks about its new credit losses accounting standard, but now some dissatisfied …
Thomson Reuters Tax & Accounting News
Eleventh Circuit analyzed estate tax lien under Supreme Court’s Summerlin principle
Saccullo v. U.S., (CA11 1/11/2019) 123 AFTR 2d 2019-344 The Court of Appeals for the Eleventh Circuit, reversing and remanding …
IRS provides penalty relief for underpayment of 2018 individual taxes
IR 2019-3, 1/16/2019; Notice 2019-11 In an Information Release and Notice, IRS has announced that it is waiving the estimated tax …
IRS issues updated contingency plan for tax season during shutdown
IRS Fiscal Year 2019 Lapsed Appropriations Contingency Plan, Jan. 15 2019 IRS has issued an updated version of its government …
IRS issues final regs on Sec. 965 transition tax
Final Sec. 965 regs IRS has issued highly anticipated final regs under Code Sec. 965 – the transition tax provision added to …
Senator queries Treasury and IRS on impact of shutdown
In a letter to Treasury Secretary Steven T. Mnuchin and IRS Commissioner Charles Rettig dated January 11, 2019, Ranking Member …
IRS issues form for new credit for paid family/medical leave
Form 8994, Employer Credit for Paid Family and Medical Leave Instructions for Form 8994 IRS has released 2018 Form 8994 …
IRS issues form for calculating global intangible low-taxed income
Form 8992, U.S. Shareholder Calculation of Global Intangible Low-Taxed Income Instructions for Form 8992 IRS has issued a new form, …
IRS revises form required for taxpayers whose prior year credits were disallowed
Form 8862, Information To Claim Certain Credits After Disallowance Instructions for Form 8862 IRS has issued an updated version of …
Partial government funding bill would re-open IRS
The House Rules Committee is scheduled on January 8 to consider the “Financial Services and General Government Appropriations Act, 2019,” …
IRS confirms that tax season will begin on January 28
IR 2019-1, 1/7/2019 IRS has announced that, despite the government shutdown, it will process tax returns beginning Jan. 28, 2019 …
The IRS might be closed, but your taxes are still due
By Beth Pinsker NEW YORK (Reuters) – The U.S. Internal Revenue Services is closed, thanks to the government shutdown, but …
IRS to release shutdown contingency plan covering filing season
Letter from Richard Neal to Charles Rettig IRS FY2019 Lapsed Appropriations Contingency Plan (Non-Filing Season – December 8-31, 2018) The …
IRS releases Form 8990 for reporting business interest subject to new Sec. 163(j) limit
Form 8990, Limitation on Business Interest Expense Under Section 163(j) Draft Instructions for Form 8990 (December 2018) IRS has released …
Senator queries IRS on penalty relief for underwithholding due to the TCJA
In a letter to IRS Commissioner Charles Rettig dated January 3, Ranking Member of the Senate Finance Committee Ron Wyden …
What’s new for 2019: a roundup of tax changes going into effect this year—Part II
A number of important tax changes go into effect in 2019. Some were ushered in by legislation such as the …
IRS issues interim guidance on excess remuneration paid by exempt orgs
Notice 2019-9 In a Notice, IRS has provided interim guidance on Code Sec. 4960, added by the Tax Cuts and Jobs …
Brady releases discussion draft of the “Tax Technical and Clerical Corrections Act”
Rep. Kevin Brady (R-TX), outgoing Chairman of the House Ways and Means Committee, has released the “Tax Technical and Clerical …