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 …
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 …
IRS finalizes regs on public approval requirement for private activity bonds
T.D. 9845, 12/28/2018; Reg. §1.147(f)-1 TD 9845, Public Approval of Tax-Exempt Private Activity Bonds IRS has issued final regs on the …
Final partnership audit regs: Administrative Adjustment Requests (AARs)
TD 9844, 12/21/2018; Reg § 301.6221(a)-1; Reg § 301.6222-1; Reg § 301.6225-1; Reg § 301.6225-2; Reg § 301.6225-3; Reg § 301.6226-1; Reg § 301.6226-2; Reg § 301.6226-3; Reg § …
Final centralized partnership audit regs: consistency requirement
TD 9844, 12/21/2018; Reg § 301.6221(a)-1; Reg § 301.6222-1; Reg § 301.6225-1; Reg § 301.6225-2; Reg § 301.6225-3; Reg § 301.6226-1; Reg § 301.6226-2; Reg § 301.6226-3; Reg § …
Final centralized partnership audit regime regs: scope
TD 9844, 12/21/2018; Reg § 301.6221(a)-1; Reg § 301.6222-1; Reg § 301.6225-1; Reg § 301.6225-2; Reg § 301.6225-3; Reg § 301.6226-1; Reg § 301.6226-2; Reg § 301.6226-3; Reg § …
Prop regs explain determination of foreign partner’s gain or loss from sale or exchange of partnership interest
Preamble to Prop Reg REG-113604-18; Prop Reg § 1.864(c)(8)-1, Prop Reg § 1.897-7 Proposed Regs: Gain or Loss of Foreign Persons from Sale or Exchange …
Automatic consent procedures for insurance company changing basis of computing reserves under TCJA
Rev Proc 2019-10, 2019-2 IRB In a Revenue Procedure, IRS has provided the procedures under Code Sec. 446 and Reg § 1.446-1(e) for an …
Moves that will maximize the new deduction for pass-through income
For tax years that begin after Dec. 31, 2017 and before Jan. 1, 2026, noncorporate taxpayers that meet certain requirements …