Category: Tax

Treasury, IRS issue final regulations on new international provision, the base erosion and anti-abuse tax


WASHINGTON — The Internal Revenue Service issued final regulations and proposed regulations today on the base erosion and anti-abuse tax. The Tax Cuts and Jobs Act (TCJA) made major changes to the tax law including revamping the U.S. international tax system. Among other changes made by the TCJA, section 59A imposes a tax equal […]

IRS directive, work opportunity tax credit (WOTC)


The IRS has posted a directive jointly issued by the Large Business & International (LB&I) and Small Business/Self-Employed (SB/SE) divisions as instructions for IRS examiners on the treatment of work opportunity tax credit (WOTC) examinations under section 51. The joint directive provides that examiners are not to challenge the timing […]

IRS priority guidance plan for 2019-2020


The 2019-2020 priority guidance plan has been released, listing guidance priorities for the IRS and Treasury Department for the 12-month period from July 1, 2019, through June 30, 2020. The priority guidance plan [PDF 97 KB] continues to prioritize implementation of the 2017 tax law (the law often referred to as the […]