IRS Practice & Procedure

TOPICS

December 1, 2017

Treasury announces which burdensome tax regulations will be withdrawn or amended

Treasury said it intended to withdraw the Sec. 2704 valuation discount regulations and portions of the Sec. 385 corporate inversion regulations.

December 1, 2017

Special per-diem rates for business travel are issued

The IRS issued its annual updates of per-diem rates for use in substantiating expenses when traveling away from home on or after Oct. 1.

December 1, 2017

Restitution does not support the imposition of interest and additions to tax

Tax Court held that the IRS was not authorized to add underpayment interest or additions to tax to the restitution taxpayers were ordered to pay as part of a sentence for criminal tax violations.

December 1, 2017

IRS announces it will rule on tax-free stock distributions

The IRS is introducing an 18-month pilot program under which it will once again issue letter rulings concerning the general income tax effects of stock distributions under Sec. 355.

November 17, 2017

Senate tax reform bill contains more changes

The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.

November 16, 2017

House passes tax reform bill

The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205.

November 15, 2017

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.

November 10, 2017

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.

November 9, 2017

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.

November 7, 2017

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.

November 6, 2017

House bill features many business tax changes

The House tax reform bill contains a large number of proposed changes that would affect businesses.

November 3, 2017

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.

November 2, 2017

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.

November 1, 2017

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.

November 1, 2017

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.

November 1, 2017

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.

November 1, 2017