As reported by Reuters, Treasury Secretary Steve Mnuchin has said that a proposed middle-class tax cut that President Trump floated just ahead of the recent November elections is not a focus of the administration’s efforts on taxes. Instead, Mnuchin said that the administration would focus its efforts on fixing issues with the 2017 tax reform law, the Tax Cuts and Jobs Act (TCJA, P.L. 115-97, 12/22/2017).
More answers
IRS withdraws proposed regs on allocating consideration and basis recovery in corporate transactions
Withdrawal of Prop Reg REG-143686-07; The Allocation of Consideration and Allocation and Recovery of Basis in Transactions Involving Corporate Stock …
Washington Alert
… IRS has issued a new warning to taxpayers regarding “a spring surge of evolving phishing emails and telephone scams.” …
IRS: no child credit where parent has religious objection to obtaining child’s SSN
Program Manager Technical Advice 2019-002 In Program Manager Technical Assistance (PMTA), IRS has concluded that it can properly deny the …