ICI Draft Recommendations for 2014-2015 Treasury/IRS Priority Guidance Plan -- Tax Items

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May 20, 2014

TO: TAX COMMITTEE No. 17-14 RE: ICI DRAFT RECOMMENDATIONS FOR 2014-2015 TREASURY/IRS PRIORITY GUIDANCE PLAN -- TAX ITEMS

 

Notice 2014-18 invites public comment on recommendations for Treasury’s 2014-2015 Priority Guidance Plan.  [1] The Institute plans to submit a letter recommending tax items on Friday, May 23, 2014.

Attached for your review is a draft letter requesting the inclusion of several guidance projects on the 2014-2015 Priority Guidance Plan, including guidance regarding: (i) foreign tax recoveries from the EU under Santander, (ii) FATCA, (iii) proposed changes to the controlled group regulations, (iv) tax issues implicated by money market reform proposals, and (v) asset diversification under the RIC Modernization Act. The letter is largely based on our past recommendations for the annual Priority Guidance Plan.  [2] The draft letter includes only tax items; the Institute submitted a separate letter with recommendations regarding retirement plan issues.

If you have comments on this draft, please contact me at 202-326-5826 or ryan.lovin@ici.org by the close of business on Thursday, May 23, 2014.

 

Ryan Lovin
Assistant Counsel – Tax Law

 

Attachment

endnotes

[1] Notice 2014-18 is available at http://www.irs.gov/pub/irs-drop/n-14-18.pdf.

[2] For a copy of the Institute’s recommendations for the 2013-2014 Priority Guidance Plan, see Memorandum No. 27212, dated May 1, 2013. The 2013-2014 Priority Guidance Plan is available at http://www.irs.gov/pub/irs-utl/2013-2014_pgp_2nd_quarter_update.pdf.