IRS practice & procedure

TOPICS / TAX

December 20, 2017

Senate passes tax reform bill; House must revote

The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.

December 15, 2017

Conference committee approves tax reform legislation

House and Senate conferees agreed to legislative language of a tax reform bill that is expected to be voted on by Congress next week.

December 2, 2017

Senate passes tax reform bill

In the early hours of Saturday morning, the U.S. Senate passed its version of the Tax Cuts and Jobs Act bill by a vote of 51–49.

December 1, 2017

IRS may not assess a deficiency 9 years after a failed tax-free merger for predecessor company’s failure to file

The new company’s return with the old company’s pro forma short-year return attached was sufficient to run the statute of limitation, the Tax Court finds.

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 its tax reform bill, on a 227–205 vote.

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 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

‘When will I get my refund?’

Beat the clock so clients don’t forfeit refunds or credits due from the IRS.

October 27, 2017

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.

October 26, 2017

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.

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

Final regs. address premium tax credit issues

IRS fashions relief from the joint filing requirement in the case of spousal abuse or abandonment and makes a technical correction in the limitation on repayment of excess advance credit by self-employed taxpayers.

October 1, 2017

Treasury identifies 8 regulations as burdensome

Rules on corporate debt vs. equity and valuation of family-owned businesses are among those deemed subject to a presidential order.

October 1, 2017

Tax Court: Taxpayers engaged in abusive Roth IRA transactions

The taxpayers’ use of a newly created corporation was held to be a vehicle to avoid Roth IRA contribution limits.

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.

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