IRS Practice & Procedure

TOPICS

October 19, 2017

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.

October 4, 2017

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.

October 1, 2017

Appeals videoconference pilot program debuts

Taxpayers and their representatives are now able to conduct virtual web-based videoconferences with IRS Appeals officers.

October 1, 2017

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.

October 1, 2017

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.

October 1, 2017

IRS issues regulations on premium tax credit

The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.

October 1, 2017

LB&I launches 13 initial campaigns

The campaigns reflect a change in the way the
IRS intends to influence the compliance
behaviors of LB&I taxpayers.

October 1, 2017

Recent developments in estate planning: Part 2

This second of a two-part article discusses GST tax and trust tax developments, as well as tax reform proposals and inflation adjustments for 2017.

October 1, 2017

IRS asks for stay on PTIN fees

If granted, the stay would allow the IRS to charge the fees while it decides whether to appeal the district court decision that struck down the fees and, if it does appeal, during the appeal itself.

September 27, 2017

Republicans unveil tax reform framework

Republican leadership released a tax reform framework that calls for fewer individual tax brackets, a lower corporate tax rate, and elimination of many tax deductions.

September 22, 2017

IRS to 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.

September 19, 2017

Hurricane Irma victims get IRS reprieve

Acting quickly in the wake of Hurricane Irma, the IRS gave filing and payment extensions to hurricane victims in 16 counties in Florida, all of St. John and St. Thomas in the U.S. Virgin Islands, and four municipalities in Puerto Rico.

September 19, 2017

Rules would allow truncated taxpayer IDs on Forms W-2

In an effort to reduce identity theft, the IRS issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement.

September 1, 2017

PTIN registration system reopened

The system had been down since early June, after a federal court held that the IRS cannot charge a PTIN fee.

August 31, 2017

Changes and outages coming to IRS e-Services

Various e-Services will be unavailable between Sept. 7 and Sept. 12, the IRS announced, as it moves to a new platform.

August 29, 2017

Hurricane Harvey victims have more time to file tax returns and pay tax

The relief includes an extension of time to file certain individual and business tax returns and make certain tax payments.

August 1, 2017

Proposed budget contains tax reform provisions and would authorize regulation of tax return preparers

President Donald Trump’s proposed FY 2018 budget includes a new proposal to give the IRS authority to regulate paid tax return preparers.

August 1, 2017

Will tax reform make C corps. more attractive for closely held businesses?

Tax reform is expected to reduce the tax rates imposed on C corporations’ taxable income, giving closely held businesses a significant reason to consider converting.

August 1, 2017