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 …
Proposed reliance regs explain operation & calculation of Sec. 199A pass-through/QBI deduction
Preamble to Prop Reg REG-107892-18; Prop Reg § 1.199A-1, Prop Reg § 1.199A-2, Prop Reg § 1.199A-3, Prop Reg § 1.199A-4, Prop Reg § 1.199A-5, Prop Reg § 1.199A-6, Prop Reg § 1.643-1; IR …
IRS modifies homeowner assistance safe harbor to reflect SALT deduction limit
Notice 2018-63, 2018-34 IRB In a Notice, IRS has amended the safe harbor that homeowners participating in the Treasury Department’s …
Prop regs on Sec. 965 transition tax: E&P and basis adjustments, affiliated groups, and Sec. 986(c)
IRS has issued proposed regs under Code Sec. 965, the “mandatory repatriation” provision added to the Code by the Tax Cuts …
Prop regs on Sec. 965 transition tax: E&P and basis adjustments, affiliated groups, and Sec. 986(c)
Preamble to Prop Reg REG-104226-18, 8/1/2018, Prop Reg § 1.962-1, Prop Reg § 1.962-2, Prop Reg § 1.965-1, Prop Reg § 1.965-2, Prop Reg § …
Prop regs set out elections related to Sec. 965 transition tax
Preamble to Prop Reg REG-104226-18, 8/1/2018; Prop Reg § 1.962-1, Prop Reg § 1.962-2, Prop Reg § 1.965-1, Prop Reg § 1.965-2, Prop Reg § 1.965-3, Prop …
Prop regs on Sec. 965 deemed repatriation/transition tax—Statutory background
Preamble to Prop Reg REG-104226-18, 8/1/2018; Prop Reg § 1.962-1, Prop Reg § 1.962-2,Prop Reg § 1.965-1, Prop Reg § 1.965-2, Prop Reg § 1.965-3, Prop …
Four states sue U.S. to void cap on state and local tax deduction
Includes reporting by Jonathan Stempel, Reuters As reported by Reuters, four U.S. states sued the federal government on Tuesday to …
Thomson Reuters Presents Comprehensive Analysis of Qualified Business Income Tax Deduction
Thomson Reuters Checkpoint Catalyst has released its analysis of the new IRC Section 199A qualified business income deduction, one of …
Taxpayer Advocate’s mid-year report notes TCJA challenge & need to improve taxpayer assistance
IR 2018-143, 6/27/2018 On June 27, National Taxpayer Advocate (NTA) Nina Olson released her statutorily mandated mid-year report to Congress. …