Regulations contain guidance for employers and individuals on the implementation of the tax, including the requirement to file a return reporting the tax, the process for employers to make adjustments of underpayments and overpayments of the tax, and the processes for employers and employees to file claims for refund for an overpayment of the tax.
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Individuals
3.8% Net Investment Income Tax Regulations
The IRS issued final and proposed regulations giving guidance on the application and computation of the 3.8% net investment income tax imposed by Sec. 1411.
Current Developments for Straddle Transactions
This item provides a brief background and summary of IRS regulations clarifying whether an obligor’s debt could be part of a straddle and the treatment of prestraddle gain or loss related to a position that is part of a “mixed straddle”.
Details of New MyRA Retirement Savings Vehicle Revealed
The White House released details of a new retirement savings account to be made available to employees through their employers.
Minimum Essential Coverage and Shared-Responsibility Penalty Rules Provide Transitional Relief for Individuals
Proposed regulations issued by the IRS answer a number of questions regarding the Sec. 5000A “individual mandate” under 2010’s health care reform legislation.
District Court Says Premium Tax Credits Are Available in Federal Health Care Exchanges
The federal district court for the District of Columbia held that the Sec. 36B premium tax credit is available to taxpayers who purchase health insurance through the 34 state health care exchanges that are run by the federal government.
Final Regs. Prescribe Treatment of Bond Premium Carryforward
The IRS issued final regulations on the tax treatment of debt instruments with bond premium carryforward in the holder’s final accrual period.
Delegating Authority Does Not Allow Taxpayer to Avoid Responsible Person Status
The Fourth Circuit held that a taxpayer who was chairman of the board and vice president of a company with actual authority over the company’s financial affairs could not avoid responsible person status by delegating her authority to control the company to her husband.
2014 Inflation Adjustments Released
The IRS issued the annual inflation adjustments for 2014 for more than 40 tax provisions and the tax tables for 2014.
Withholding Rules for U.S. Citizens and Resident Aliens Working for a U.S. Employer in a Foreign Country
For income tax withholding purposes, the wages of U.S. citizens and resident aliens include all remuneration for services performed as an employee for an employer, regardless of whether the services are performed in the United States.
Protection From Creditors for Retirement Plan Assets
This article will help tax practitioners come to grips with the unique intersection of the tax, bankruptcy, and ERISA laws in the area of retirement planning.
Top Tax News Developments in 2013
The past year featured a large number of tax developments, some of which got extensive coverage in the media, and many of which got less coverage but affect almost all taxpayers and practitioners. As we get ready to welcome a new year, here’s a look back at the most important
Guidance Issued on Tax Treatment of National Mortgage Settlement Payments
The IRS issued guidance on the correct tax treatment of payments taxpayers receive under the National Mortgage Settlement when their house is foreclosed on.
Standard Mileage Rates Go Down Slightly in 2014
The optional standard mileage rates for use of a vehicle will go down by one-half cent per mile for 2014, the IRS announced.
Tax Issues for Individuals Who Create Intellectual Property
This article discusses the unique tax issues facing creators of intellectual property, particularly federal income tax treatment for individual taxpayers.
New Brackets, Net Investment Income Tax Expand Scope of Tax Planning
Virtually every financial decision for higher-income taxpayers now needs to be analyzed through the lens of the regular income tax, the alternative minimum tax, the net investment income tax, and new additional brackets.
New Procedures for Equitable Innocent Spouse Relief
The IRS provided rules under which taxpayers can obtain equitable innocent spouse relief from joint liability under Sec. 66(c) or 6015(f).
Income Verification for Insurance Premium Tax Credit Included in Deal to End Government Shutdown
The law enacted on Oct. 17 to fund the federal government through Jan. 15 and to extend the federal government’s borrowing authority through Feb. 7 contained one tax provision, making a minor change to 2010’s health care legislation.
Current Developments in Employee Benefits and Compensation
While the health care law garnered much of the attention this past year, other developments unrelated to the new law in the employee plans area were just as significant—including the American Taxpayer Relief Act of 2012 and the Supreme Court’s decision in Windsor.
Sec. 631(b) and the Taxation of Standing Timber Sales
Under Sec. 631(b), gains or losses from the sale of standing timber are considered gains and/or losses from the sale of business use property.
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.
