Tax Reform Guidance

Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS is implementing this major tax legislation that will affect both individuals and businesses. We will provide information and guidance to taxpayers, businesses and the tax community as it becomes available.

NPRM -REG 131071-18, Eligible Terminated S Corporations (PDF)

NPRM - REG–117062–18, Electing Small Business Trusts With Nonresident Aliens as Potential Current Beneficiaries

REG-128246-18, Contribution Limits Applicable to ABLE Accounts

NPRM - REG-104223-18, Ownership attribution under section 958

NPRM - REG-106808-19, Additional First Year Depreciation Deduction

REG-125710-18, Regulations under Section 382(h) Related to Built-in Gain and Loss

REG-104870-18, Taxable Year of Income Inclusion under an Accrual Method of Accounting

REG-104554-18, Advance Payments for Goods, Services, and Other Items

REG-101378-19, Determination of the Maximum Value of a Vehicle for Use with the Fleet-average and Vehicle Cents-per-mile Valuation Rules

REG-105474-18, Guidance on Passive Foreign Investment Companies (PDF)

REG-106877-18, Guidance on the Determination of the Section 4968 Excise Tax Applicable to Certain Private Colleges and Universities

REG-118425-18, Section 199A Rules for Cooperative and their Patrons

REG-101828-19, Guidance under Section 958 (Rules for Determining Stock Ownership) and Section 951A (Global Intangible Low-Taxed Income)

REG-106282-18, Limitation on Deduction for Dividends Received from Certain Foreign

REG-105476-18, Withholding of Tax and Information Reporting with Respect to Interests in Partnerships Engaged in the Conduct of a U.S. Trade or Business (PDF)

REG-120186-18 NPRM, Investing in Qualified Opportunity Funds (PDF)

REG-120186-18, Request for Information on Data Collection and Tracking for Qualified Opportunity Zones (PDF)

REG-103083-18, Information Reporting for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules (PDF)

REG-104464-18, Deduction for Foreign-Derived Intangible Income and Global Intangible Low-Taxed Income (PDF)

REG-106706-18, Estate and Gift Taxes; Differences in the Basic Exclusion Amount (PDF)

REG-104352-18, Rules Regarding Certain Hybrid Arrangements (PDF)

REG-134652-18, NPRM - Qualified Business Income Deduction (PDF)

REG-113604-18, Gain or Loss of Foreign Persons from Sale or Exchange of Certain Partnership Interests (PDF)

REG-104259-18, Base Erosion and Anti-Abuse Tax

REG-104872-18, Removal of Regulations on Advance Payments for Goods and Long-Term Contracts (PDF)

REG-105600-18, Guidance Related to the Foreign Tax Credit, Including Guidance Implementing Changes Made by the Tax Cuts and Jobs Act

REG-106089-18, Limitation on Deduction for Business Interest Expense

REG-107163-18, Regulations to Prescribe Return and Time for Filing for Payment of Section 4960, 4966, 4967, and 4968 Taxes and to Update the Abatement Rules for Section 4966 and 4967 Taxes (TCJA added sections 4960 , Tax on excess tax-exempt organization executive compensation and 4968, Excise tax based on investment income of private colleges and universities to the Tax Code

REG-103163-18, Modification of Discounting Rules for Insurance Companies (PDF)

REG-115420-18 (rescheduled), Investing in Qualified Opportunity Funds; Hearing

REG-115420-18, Investing in Qualified Opportunity Funds

REG-114540-18, Amount Determined Under Section 956 for Corporate United States Shareholders

REG-104390-18, Guidance Related to Section 951A (Global Intangible Low-Taxed Income)

REG-112176-18, Contributions in Exchange for State or Local Tax Credits

REG-107892-18, Qualified Business Income Deduction (Income tax deduction for passthroughs)

REG-104397-18, Additional First Year Depreciation Deduction (Bonus Depreciation for Certain Property) (PDF)

REG-104226-18, Guidance Regarding the Transition Tax Under Section 965 and Related Provisions

REG-103474-18, Tax Return Preparer Due Diligence Penalty under Section 6695(g) (Expands the scope of the tax return preparer due diligence penalty so that it applies with respect to eligibility to file a return or claim for refund as head of household.) (PDF)

Rev. Proc. 2019-40, Guidance related to the repeal of section 958(b)(4)(PDF)

Rev. Proc. 2019-38, IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified business income deduction (PDF)

Rev. Proc. 2019-37, Changes in accounting periods and in methods of accounting (PDF)

Rev. Proc. 2019-34, Changes in accounting periods and in methods of accounting (PDF) 

Rev. Proc. 2019-33, Additional first year depreciation (PDF) 

Rev. Proc. 2019-31, Rulings and determination letters (PDF)

Rev. Proc. 2019-30, Changes in accounting periods and in methods of accounting (PDF)

Rev. Proc. 2019-26, Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability (Tables of limitations on depreciation deductions for owners of passenger automobiles) (PDF)

Rev. Proc. 2019-13, Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability (PDF)

Rev. Proc. 2019-12, Business expenses (PDF)

Rev. Proc. 2019-11, Determination of W-2 Wages (PDF)

Rev. Proc. 2019-10, Changes in accounting periods and in methods of accounting (PDF)

Rev. Proc. 2019-08, Time and manner of making election (PDF)

Rev. Proc. 2019-06, Rulings and determination letters (PDF)

Rev. Proc. 2018-60, Changes in accounting periods and methods of accounting (PDF)

Rev. Proc. 2018-59, Limitation on Deduction for Business Interest Expense (PDF)

Rev. Proc. 2018-57, Inflation adjustments (PDF)

Rev. Proc. 2018-48, Examination of returns and claims for refund, credit or abatement; determination of correct tax liability (PDF)

Rev. Proc. 2018-47, Examination of returns and claims for refund, credit or abatement; determination of correct tax liability (PDF)

Rev. Proc 2018-44, Corporate Methods of Accounting (PDF)

Rev. Proc. 2018-40, Changes in accounting periods and methods of accounting (PDF)

Rev. Proc. 2018-35, Changes in accounting periods and in methods of accounting (Expensing of certain cost of replanting citrus plants lost by reason of casualty.) (PDF)

Rev. Proc. 2018-31, Changes in accounting periods and in methods of accounting (PDF)

Rev. Proc. 2018-30, Tax forms and instructions (PDF)

Rev. Proc. 2018-29, New automatic method changes to conform with FASB Topic 606 (Provides new automatic method changes and requests comments on those new changes and on future guidance for taxpayers changing their method of accounting to comply with amended § 451.) (PDF)

Rev. Proc. 2018-27, Modifies the annual limitation on deductions for contributions to Health Savings Accounts (HSAs) allowed for individuals with family coverage under a high deductible health plan (HDHP) (PDF)

Rev. Proc. 2018-26, 601 Rules and regulations - certain remedial actions that issuers of State and local tax-exempt bonds and other tax-advantaged bonds may take (PDF)

Rev. Proc. 2018-25, Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability (Depreciation of passenger automobiles under 280F.) (PDF)

Rev. Proc. 2018-22, Tax forms and instructions (PDF)

Rev. Proc. 2018-18, Modifying certain 2018 cost-of-living adjustments (PDF)

Rev. Proc. 2018-17, Requests by certain foreign corporations for changes in annual accounting periods (PDF)

Rev. Proc. 2018-16, Qualified Opportunity Zones (PDF)

Notice 2019-46, Domestic Partnerships and S Corporations Filing Under Proposed GILTI Regulations (PDF)

Notice 2019-42, Amplification of Notice 2018-48 to Include Additional Puerto Rico Designated Qualified Opportunity Zones (PDF)

Notice 2019-27, Methods for Calculating W-2 Wages for Purposes of Section 199A(g) (PDF)

Notice 2019-12, Guidance Providing a Safe Harbor Under Section 164 for Certain Individuals Who Make a Payment to or for the Use of an Entity Described in Section 170(c) in Return for a State or Local Tax Credit (PDF)

Notice 2019-33, Request for Comments on Necessary Clarifications to Normalization Requirements for Excess Tax Reserves Resulting from the Corporate Tax Rate Decrease (PDF)

Notice 2019-25, Relief from Addition to Tax for Underpayment of Estimated Income Tax by an Individual (PDF)

Notice 2019-17, Relief from Addition to Tax for Underpayment of Estimated Income Tax (PDF)

Notice 2019-07, Section 199A Trade or Business Safe Harbor: Rental Real Estate (PDF)

Notice 2019-11, Relief from Addition to Tax for Underpayment of Estimated Income Tax by an Individual (PDF)

Notice 2019-09, Interim Guidance Under Section 4960 (PDF)

Notice 2019-08, Maximum Values For 2018 For Use With Vehicle Cents-Per-Mile and Fleet-Average Valuation Rules (PDF)

Notice 2019-05, Individual Shared Responsibility Payment Hardship Exemptions that May Be Claimed on a Federal Income Tax Return Without Obtaining a Hardship Exemption Certification from the Marketplace for the 2018 Tax Year (PDF)

Notice 2019-01, Previously Taxed Earnings and Profits Accounts (PDF)

Notice 2018-100, Relief from Additions to Tax for Underpayment of Estimated Income Tax for Tax-Exempt Organizations That Provide Certain Qualified Transportation Fringes (PDF)

Notice 2018-99, Parking Expenses for Qualified Transportation Fringes Under § 274(a)(4) and § 512(a)(7) of the Internal Revenue Code (PDF)

Notice 2018-97, Guidance on the Application of Section 83(i) (PDF)

Notice 2018-92, Interim Guidance and Request for Comments on Income Tax Withholding from Wages and from Retirement and Annuity Distributions (PDF)

Notice 2018-84, Guidance under §§ 36B, 5000A, and 6011 on the suspension of personal exemption deductions (PDF)

Notice 2018-80, Guidance Under Section 451(b) Relating to Market Discount (PDF)

Notice 2018-78, Additional Guidance Under Section 965 (PDF)

Notice 2018-76, Expenses for Business Meals Under § 274 of the Internal Revenue Code (PDF)

Notice 2018-75, Guidance under Section 132(g) for the Exclusion from Income of Qualified Moving Expense Reimbursements (PDF)

Notice 2018-74, Safe Harbor Explanations - Eligible Rollover Distributions (PDF)

Notice 2018-71, Employer Credit for Paid Family and Medical Leave (PDF)

Notice 2018-70, Guidance on Qualifying Relative and the Exemption Amount (PDF)

Notice 2018-68, Guidance on the Application of Section 162(m) (PDF)

Notice 2018-67, Request for Comments Regarding the Calculation of Unrelated Business Taxable Income under § 512(a)(6) for Exempt Organizations with More than One Unrelated Trade or Business (PDF)

Notice 2018-64, Methods for Calculating W-2 Wages for Purposes of Section 199A (PDF)

Notice 2018-63, Amplification and Modification of Safe Harbor Method for Participants in the HFA Hardest Hit Fund (PDF)

Notice 2018-62, Guidance on the Contribution Limits Applicable to ABLE Accounts (PDF)

Notice 2018-61, Clarification Concerning the Effect of Section 67(g) on Trusts and Estates (Clarifies the effect of newly enacted section 67(g) on the deductibility of certain expenses that are incurred by estates and non-grantor trusts) (PDF)

Notice 2018-58, Guidance on Recontributions, Rollovers and Qualified Higher Education Expenses under Section 529 (PDF)

Notice 2018-55, Guidance on the Calculation of Net Investment Income for Purposes of the Section 4968 Excise Tax Applicable to Certain Private Colleges and Universities (PDF)

Notice 2018-54, Guidance on Certain Payments Made in Exchange for State and Local Tax Credits (PDF)

Notice 2018-48, Designated Qualified Opportunity Zones under Internal Revenue Code § 1400Z-2 (PDF)

Notice 2018-43, Public Comment Invited on Recommendations for 2018-2019 Priority Guidance Plan (PDF)

Notice 2018-42, Update of 2018 Standard Mileage Rates Notice (PDF)

Notice 2018-41, Information Reporting for Certain Life Insurance Contract Transactions and a Modification to the Transfer for Valuable Consideration Rules (PDF)

Notice 2018-38, 2018 Fiscal-year Blended Tax Rates for Corporations (PDF)

Notice 2018-37, Guidance in Connection with the Repeal of Section 682 (Tax Treatment of alimony and separate maintenance payments.) (PDF)

Notice 2018-35, Changes in accounting periods and method of accounting  (Transitional guidance regarding new section 451(c), which allows accrual method taxpayers to elect a limited deferral of the inclusion of income associated with certain advance payments.) (PDF)

Notice 2018-30, Modification of Notice 2003-65 (Effect of first year depreciation on recognized built-in gains and recognized built-in losses.) (PDF)

Notice 2018-29, Guidance Regarding the Implementation of New Section 1446(f) for Partnership Interests That Are Not Publicly Traded (Withholding on dispositions.) (PDF)

Notice 2018-28, Initial Guidance Under Section 163(j) as Applicable to Taxable Years Beginning After December 31, 2017 (Limitation on deduction of business interest expense.) (PDF)

Notice 2018-26, Additional Guidance Under Section 965; Guidance Under Sections 62, 962, and 6081 in Connection With Section 965; and Penalty Relief Under Sections 6654 and 6655 in Connection with Section 965 and Repeal of Section 958(b)(4) (Treatment of deferred foreign income including relief from estimated tax penalties.) (PDF)

Notice 2018-23, Transitional Guidance Under §§ 162(f) and 6050X with Respect to Certain Fines, Penalties, and Other Amounts (Denial of deduction for fines or penalties for violation of the law.) (PDF)

Notice 2018-18, Guidance Under Section 1061, Partnership Interests Held in Connection with Performance of Services (PDF)

Notice 2018-15, New Clean Renewable Energy Bonds (PDF)

Notice 2018-14, Guidance on Withholding Rules (PDF)

Notice 2018-13, Additional Guidance Under Section 965 and Guidance Under Sections 863 and 6038 in Connection with the Repeal of Section 958(b)(4) (Guidance regarding deferred foreign income.) (PDF)

Notice 2018-08, Revised Timeline and Other Guidance Regarding the Implementation of New Section 1446(f) (PDF)

Notice 2018-07, Guidance under Section 965 (Deferred Foreign Income Corporations) (PDF)

Notice 2018-03, 2018 Standard Mileage Rates (PDF)

Notice 1036, Early Release Copies of the 2018 Percentage Method Tables for Income Tax Withholding (PDF)