The IRS issued final regulations providing guidance on tax-favored investments in qualified opportunity zones (QOZs). Source: The Tax Adviser
Year-end government spending bill contains many tax provisions
The consolidated appropriations bill passed by Congress makes many changes to retirement plan rules, repeals health care taxes, extends…
5th Circuit invalidates health care law’s individual mandate
The Fifth Circuit held that the “individual mandate” under Sec. 5000A, which imposes a “shared responsibility payment” on taxpayers…
New FASB standard aims to simplify accounting for income taxes
FASB issued a standard that is designed to reduce cost and complexity in accounting for income taxes. Source: The…
Proposed regs. would govern Sec. 162(m) executive compensation limits
The IRS issued proposed regulations on the Sec. 162(m) $1 million limit on executive compensation paid by certain publicly…
Final regs. issued on foreign tax credits
The IRS officially released final regulations providing guidance on determining foreign tax credits. The regulations include changes necessitated by…
Guidance issued on payments to charitable organizations
The IRS issued additional rules on the treatment of deductions for charitable contributions in lieu of state and local…
Partnership capital reporting requirements postponed until 2020
The IRS is postponing the requirement to report partners’ shares of partnership capital on the tax-basis method for 2019…
BEAT regs. are finalized, new regs. are proposed
The IRS issued detailed guidance on the Sec. 59A base-erosion and anti-abuse tax (BEAT), which was added to the…
Deadline for health care information statements extended
As it does every year, the IRS extended the due date to furnish certain health care information statements to…