IRS to issue regs on accrued market discount and “all events test”
Notice 2018-80, 2018-42 IRB In a Notice, IRS has announced that it intends to issue proposed regs providing that market …
End of SAB No. 118 Grace Period May Lead to More Detailed Income Tax Disclosures
The SEC’s interpretive guidance that lets companies use good faith estimates to adjust for the income tax effects of the …
IRS issues Q&As on new Code Sec. 45S employer credit for paid family and medical leave
Notice 2018-71; IR 2018-191, 9/24/2018 In a Notice and accompanying news release, IRS has provided guidance, in the form of questions …
Proposed regs explain & clarify new global intangible low-taxed income (GILTI) regime
Preamble to Prop Reg REG-104390-18; Prop Reg § 1.951A-1, Prop Reg § 1.951A-2, Prop Reg § 1.951A-3, Prop Reg § 1.951A-4, Prop Reg § 1.951A-5, Prop …
Thomson Reuters Checkpoint Projects Increase to Inflation-Adjusted Tax Brackets in 2019
A Thomson Reuters special report, Projected 2019 Inflation-Adjusted Tax Brackets and Other Key Figures, calculates the inflation adjustments to next …
IRS issues FAQ, and Mnuchin issues statement, on SALT limitation
State and Local Income Tax FAQ Following up on IR 2018-178 that it issued on September 5 regarding businesses making payments to …
IRS clarifies definition of “qualifying relative” in light of TCJA changes
Notice 2018-70, 2018-38 IRB In a Notice, IRS has issued guidance, and announced its intention to issue proposed regs, clarifying …
Proposed regs would eliminate benefit of SALT limitation workaround
Preamble to Prop Reg REG-112176-18; Prop Reg § 1.170A-1, Prop Reg § 1.170A-13, Prop Reg § 1.642(c)-3; IR 2018-172 Proposed Regs, REG-112176-18, Contributions in exchange …
IRS explains TCJA’s changes to executive compensation deduction limit
Notice 2018-68, 2018-36 IRB In a Notice, IRS has provided guidance with respect to changes made by the Tax Cuts …
Lawmakers explain TCJA errors & request IRS guidance reflect Congressional intent pending corrections
Several Republican members of the Senate Finance Committee have written a letter to Treasury and IRS officials identifying three key …