Trump Signs Bipartisan Budget Act; Tax Extenders Included
President Trump on February 9 signed the Bipartisan Budget Act into
law after a brief government shutdown occurred overnight. The
legislation contains tax provisions in addition to a continuing
Treasury Moves To Repeal 298 Unnecessary, Obsolete Regulations
The Treasury Department has proposed repealing 298 regulations.
According to the Treasury, the targeted rules are unnecessary,
duplicative or obsolete. In addition, the Treasury proposed to
Administration’s FY 2019 Budget Prioritizes IRS Enforcement, Proposes Few Tax-Law Changes
The Trump administration on February 12 released its
much-anticipated fiscal year (FY) 2019 budget request, "Efficient,
Effective, Accountable An American Budget." The administration’s
IRS Releases Second Quarter Guidance Update; Focus On New Law
The Treasury and IRS have released their second quarter update to
the 2017-2018 Priority Guidance Plan. The updated 2017-2018
Priority Guidance Plan now reflects 29 additional projects,
including 18 p...
Additional Partnership Audit Regs Tackle Basis/Capital Accounts
New proposed regulations under the centralized partnership audit
regime address how and when partnerships and their partners adjust
tax attributes to take into account partnerships’ payment adju...
IRS Issues Guidance On Accounting Period Changes By Foreign Corporations To Prevent Avoidance of Transition Tax
The IRS has issued guidance for certain specified foreign
corporations owned by U.S. shareholders subject to the Code
Sec. 965 transition tax that are requesting a change in
IRS Posts Best Practices For Individual Mandate
The IRS has posted best practices for return preparers addressing
the Affordable Care Act’s individual shared
responsibility requirement, also known as the individual mandate.