The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205.
Advertisement
TOPICS
IRS Practice & Procedure
Senate Finance Committee modifies tax reform proposal
The revised chairman’s mark of the Senate tax reform bill contains many significant changes to the proposed legislation.
House Ways and Means approves amended Tax Cuts and Jobs bill
The committee voted to send an amended version of the Tax Cuts and Jobs tax reform bill to the full House.
Senate tax reform bill differs from House version in many ways
Differences include tax rates, treatment of various deductions and a delay in the reduction of the corporate tax rate.
Foreign income provisions in the Tax Cuts and Jobs Act
The House’s tax reform bill would make many changes to the taxation of US companies’ foreign subsidiaries.
House bill features many business tax changes
The House tax reform bill contains a large number of proposed changes that would affect businesses.
What the House tax bill holds for individuals
From new tax rates to fewer deductions, credits, and exclusions, the tax reform bill released by the House would have wide-ranging effects on the taxation of individuals.
Details of tax reform legislation revealed
The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details.
E-filing for 2016 individual returns will shut down soon
The news especially affects taxpayers in recent disaster areas who have received extensions until Jan. 31, 2018, to file their 2016 returns.
Time limits on refunds and credits
While many overpayments are conceded by the IRS and credited or refunded automatically, sometimes the taxpayer must file a claim for credit or refund.
IRS limits employer access to employee tax payment information
Taxpayers cannot rely on a recent tax case to require the IRS to provide workers’ return information during employment tax audits, during either the examination process or Appeals consideration.
Tax return position vs. tax return preparation
Simply preparing a return may invoke different ethical and legal standards than would providing tax advice.
Taxpayer’s reliance on tax preparer who erred was reasonable and in good faith; penalties abated
The Tax Court found that a taxpayer had reasonably relied on her preparer’s advice in determining which year to include income.
IRS announces delay in re-launching e-Services
The IRS had planned to launch by the end of the month its updated Secure Access site, which will require using a two-factor authentication process.
David Kautter to be named acting IRS commissioner
President Donald Trump plans to name David Kautter as acting IRS commissioner when John Koskinen’s term expires in November.
IRS issues 2018 inflation-adjusted tax tables and many other tax provisions
The IRS issued the annual revenue procedure that updates the almost 60 tax provisions that must be adjusted for inflation each year.
Treasury to pull regulations after review of burdensome tax rules
Treasury said it intended to withdraw the Sec. 2704 valuation discount regulations and portions of the Sec. 385 corporate inversion regulations.
Appeals videoconference pilot program debuts
Taxpayers and their representatives are now able to conduct virtual web-based videoconferences with IRS Appeals officers.
8 regulations are deemed burdensome
After reviewing all 105 Treasury regulations issued in 2016 and early 2017, the Treasury Department has identified eight that cost too much, are too complex or exceed the IRS’s statutory authority.
Guidance on new statutory due dates for many tax and information returns is issued
Changes to due dates and extensions to file various tax returns and information returns were implemented in a package of regulations issued by the IRS.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
