Tax Alerts

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April 2018 | March 2018 | Special Edition Tax Alert: Bipartisan Budget Deal | February 2018 | January 2018 |Highlights of the Tax Reform Bill | 2018 Payroll Tax Requirements | Special Edition Tax Alert: Senate Passes Tax Bill |December 2017 | November 2017 | 2017 Tax Data Schedules | 2017 Year End Tax Planning Guide | October 2017 | September 2017 | August 2017| July 2017 | June 2017 | May 2017 | April 2017 | March 2017 | February 2017 | January 2017 | 2017 Payroll Tax Requirements | December 2016 | 2016 Year-End Tax Planning | November 2016 | 2016 Tax Data Schedule | October 2016 | September 2016 | August 2016 | July 2016 | June 2016 | May 2016

Tax Extenders Included in Bipartisan Budget Act
Friday, March 30, 2018

The Bipartisan Budget Act (Act) was signed into law after a brief government shutdown in February. The legislation contains tax provisions in addition to a continuing resolution to fund the government and federal agencies through March 23. The House approved this new law in the early morning hours of February 9, by a 240-to-186 vote. The Senate […]

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Treasury Moves To Repeal 298 Unnecessary, Obsolete Regulations
Friday, March 30, 2018

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 amend another 79 regulations to reflect the repeal. “We continue our work to ensure that our tax regulatory system promotes economic growth,” Treasury Secretary Steven Mnuchin said in a […]

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Administration’s FY 2019 Budget Prioritizes IRS Enforcement, Proposes Few Tax-Law Changes
Friday, March 30, 2018

The Trump administration had released its much-anticipated fiscal year (FY) 2019 budget request, “Efficient, Effective, Accountable An American Budget.” The administration’s proposal calls for IRS funding that focuses additional resources on enforcement and cybersecurity. Coming off passage of the Tax Cuts and Jobs Act, this year’s budget recommendations contain only a handful of additional tax […]

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IRS Releases Second Quarter Guidance Update; Focus On New Law
Friday, March 30, 2018

The Treasury and IRS have released their second quarter update to the 2017-2018 Priority Guidance Plan (Plan). The updated Plan now reflects 29 additional projects, including 18 projects that have become near-term priorities as a result of the Tax Cut and Jobs Act of 2017 (TCJA). As in the past but made more urgent by […]

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IRS Issues Guidance On Accounting Period Changes By Foreign Corporations To Prevent Avoidance of Transition Tax
Friday, March 30, 2018

The IRS has issued guidance for certain specified foreign corporations owned by U.S. shareholders subject to the Internal Revenue Code (IRC) Section 965 transition tax that are requesting a change in accounting period. The IRS will not approve a request to change the annual accounting period under either the existing automatic or general change of […]

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