2021 Increases to Certain Employee Plan Ruling User Fees
Announcement 2020-14 In an Announcement, IRS has announced increases to user fees relating to certain requests for letter rulings and …
Final REGs on SALT Limitation Workarounds
The IRS has issued final regs on workarounds whereby taxpayers make contributions to charities in return for state-provided state and …
IRS Recording of Power of Attorney Appointments Delayed Due to COVID-19
On its website, the IRS has said that recording information about third parties appointed under a power of attorney into …
Final Regs under Sec. 163(j) Address Key Definitions and Calculations
IRS has issued final regs on the Code Sec 163(j) business interest expense deduction that reflect changes made by the Tax Cuts …
Reminder: July 31 Deadline for IVES Electronic Signature/Account Update Certification
Reminder: This June, IRS announced that all Income Verification Express Service (IVES) participants must review and complete an electronic signature and …
Final Regs on Income Subject to a High Rate of Foreign Tax
The IRS has issued final regs under the global intangible low-taxed income (GILTI) and subpart F income provisions of the …
Temp NOL REGs Respond to Retroactive Extension of Carryback Period Due to COVID-19
The IRS has issued temporary regs that permit consolidated groups (that acquire new members that were members of another consolidated …
QI/WP/WT FACTA Periodic Certification and Waiver Due Date Extended to Dec. 15
On its website, the IRS has announced that, for a Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and Withholding Foreign …
Proposed REGs on Excise Tax on Excess Tax-Exempt Organization Compensation
The IRS has proposed regs regarding the tax on excessive compensation paid to tax-exempt organization executives. Background. Under Code Sec. 4960(a), …
Final Rules Update Information Reporting Requirement for Tax Exempt Organizations
The IRS has released final rules updating the information reporting requirements for tax-exempt organizations. These final rules adopt the proposed …