April 2017

April 26, 2017

Trump’s tax reform priorities unveiled

Key features include a large reduction in the corporate tax rate, fewer and lower tax brackets for individuals, and a repeal of the estate tax and the alternative minimum tax.

April 24, 2017

Treasury ordered to review 2016 tax regulations

President Donald Trump signed an executive order directing the Treasury Department to review “significant” regulations that were issued in 2016 and 2017 to determine if the regulations cost too much, are too complex, or exceed the IRS’s statutory authority.

April 20, 2017

Guidance issued on PATH Act depreciation, Sec. 179 changes

The IRS issued guidance on how taxpayers can take advantage of various provisions enacted by last year’s PATH Act.

April 19, 2017

Automatic accounting method change procedures updated

The IRS provided updated rules for the various accounting method changes that qualify for automatic consent from the IRS.

April 11, 2017

Micro-captive insurance disclosure statement deadline approaching

Taxpayers who have engaged in “micro-captive transactions,” which the Internal Revenue Service has designated as transactions of interest, have until May 1 to file the required disclosure statement.