The IRS issued regulations under Sec. 871(m) that govern withholding on dividend equivalents received by nonresident individuals and foreign corporations from sources within the United States.
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Special Per-Diem Rates Issued for 2015–2016 Travel
The IRS issued per-diem rates for use in substantiating business expenses taxpayers incur while traveling away from home.
Charities Would Be Permitted to Issue Information Returns to Donors
Charities will be allowed to file information returns instead of providing contemporaneous written acknowledgment of charitable donations under proposed regulations issued by the IRS.
AICPA Expresses Concerns About Tax Return Preparer Legislation
The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.
Transfer-Pricing Arm’s-Length Standard and Transfers of Foreign Goodwill Clarified
Taxpayers will be required to consistently value transfer-pricing transactions for purposes of all Code sections under rules issued by the IRS.
Proposed Rules Govern Taxation of Gifts and Bequests From Covered Expatriates
Taxpayers who receive gifts or bequests from certain individuals who gave up their U.S. citizenship or residency will be subject to tax under rules proposed by the IRS on Wednesday.
IRS Final Rules Govern Required Minimum Contributions for Single-Employer Pension Plans
Rules issued by the IRS govern the determination of minimum funding requirements for single-employer pension plans and how to calculate the excise tax on underfunding these plans.
Rules Target Abuse of “Legging Out” of Foreign Currency Hedges
Final regulations issued on Friday clarify the tax treatment of certain terminations of qualified hedging transactions under Sec. 988.
Regulations Prevent CFCs From Using Partnerships to Avoid Sec. 956
The IRS issued temporary and proposed regulations governing the treatment of property held by a controlled foreign corporation in connection with certain transactions involving partnerships.
Employer Health Plans Must Cover Inpatient Hospital and Physician Services
The IRS added a requirement that employer-sponsored health plan benefits must include substantial coverage of inpatient hospital and physician services for the plan to count as providing minimum value.
IRS Proposes Rule Updates and Clarifications to Penalty for Nondisclosure of Reportable Transactions
The IRS issued proposed regulations that would update and clarify the rules regarding the penalty for failure to disclose reportable transaction information.
Benefits and Burdens Would No Longer Determine Sec. 199 Deduction
The IRS has proposed removing the benefits-and-burdens-of-ownership rule for determining which party to a contract manufacturing agreement should get the Sec. 199 domestic production activities deduction.
Benefits and Burdens Would No Longer Determine Sec. 199 Deduction
The IRS has proposed removing the benefits-and-burdens-of-ownership rule for determining which party to a contract manufacturing agreement should get the Sec. 199 domestic production activities deduction.
Constructive Presence Would Count Under Proposed Residency Rules
The IRS issued proposed regulations that, for purposes of establishing bona fide residency in a U.S. territory, would allow individuals additional days of “constructive presence” in the territories if certain conditions are met.
Regulations Determine Allocation of Wages for Domestic Production Activities Deduction
The new rules govern the Sec. 199 deduction when two taxpayers employ the same employees.
IRS Announces Delayed Due Date for New Estate Basis Reporting Rules
The IRS issued guidance delaying the due date for compliance with the recently enacted rules that require consistent basis reporting between an estate and anyone acquiring property from the estate.
Get Transcript Data Breach More Than Three Times as Big, IRS Announces
The IRS alerted the public that an additional 220,000 taxpayers had their tax return information compromised in the Get Transcript database breach it announced in May.
New Law Imposes Immediate Estate Basis and Reporting Requirements
The highway funding bill made changes to the Internal Revenue Code that affect estates and beneficiaries, including new reporting rules.
Identity Theft Protection Services Provided After a Data Breach Are Not Taxable
The announcement applies to anyone whose personal information may have been compromised in a data breach, including customers, employees, and others.
Temporary Regulations End Automatic Extension for Forms W-2
In a move designed to fight taxpayer identity theft and tax fraud, the IRS will eliminate automatic extensions of time to file forms in the W-2 series, starting in 2017.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
