Memo #
31082

IRS and Treasury Release Updated 2017-2018 Priority Guidance Plan -- Tax Items
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[31082]

February 9, 2018 TO: ICI Members
ICI Global Members
Accounting/Treasurers Committee
ICI Global Tax Committee
Tax Committee
Transfer Agent Advisory Committee SUBJECTS: Tax RE: IRS and Treasury Release Updated 2017-2018 Priority Guidance Plan -- Tax Items

 

The Treasury Department and the Internal Revenue Service have released a second quarter update to the  2017-2018 Priority Guidance Plan, listing their priorities for tax regulations and other administrative guidance through June 2018. This update reflects 29 additional projects, including those that have become near term priorities as a result of the Tax Cuts and Jobs Act (TCJA).  Several additional projects of interest to funds and fund shareholders, and previously highlighted as outstanding issues by the Institute,[1] are included in the plan:

  • Computational, definitional, and other guidance under new §163(j).
  • Computational, definitional, and other guidance under new §199A.
  • Definitional and other guidance under new §451(b) and (c).
  • Guidance implementing new §965 and other international sections of the TCJA.
  • Guidance under new §1446(f) for dispositions of certain partnership interests.

 

Katie Sunderland
Counsel - Tax Law

 

endnotes

[1] See the Institute’s Memorandum No. 30991 describing the Tax Cuts and Jobs Act and outstanding tax issues.